Bayforest Capital Ltd Sells 2,203 Shares of UFP Industries, Inc. $UFPI

Bayforest Capital Ltd decreased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 84.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 417 shares of the construction company’s stock after selling 2,203 shares during the quarter. Bayforest Capital Ltd’s holdings in UFP Industries were worth $41,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State of Wyoming lifted its position in UFP Industries by 8.4% during the first quarter. State of Wyoming now owns 1,294 shares of the construction company’s stock worth $139,000 after purchasing an additional 100 shares during the period. Great Lakes Advisors LLC lifted its position in UFP Industries by 0.5% during the first quarter. Great Lakes Advisors LLC now owns 21,105 shares of the construction company’s stock worth $2,259,000 after purchasing an additional 105 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in UFP Industries by 39.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock worth $45,000 after purchasing an additional 119 shares during the period. QRG Capital Management Inc. lifted its position in UFP Industries by 0.3% during the second quarter. QRG Capital Management Inc. now owns 38,191 shares of the construction company’s stock worth $3,795,000 after purchasing an additional 124 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in UFP Industries by 6.0% during the second quarter. Verdence Capital Advisors LLC now owns 2,227 shares of the construction company’s stock worth $221,000 after purchasing an additional 126 shares during the period. Institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Down 0.0%

UFP Industries stock opened at $90.66 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. UFP Industries, Inc. has a 52-week low of $88.99 and a 52-week high of $141.33. The firm has a 50 day moving average price of $97.51 and a two-hundred day moving average price of $100.01. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 15.74 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.25). The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.85 billion. UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 EPS. Equities analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.40 annualized dividend and a yield of 1.5%. UFP Industries’s dividend payout ratio (DPR) is presently 24.31%.

Analysts Set New Price Targets

UFPI has been the subject of a number of research reports. Loop Capital initiated coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 target price for the company. Stifel Nicolaus set a $95.00 target price on shares of UFP Industries and gave the stock a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of UFP Industries in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, UFP Industries has an average rating of “Hold” and a consensus target price of $124.25.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.