MAI Capital Management Sells 632 Shares of UFP Industries, Inc. $UFPI

MAI Capital Management lessened its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 14.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,677 shares of the construction company’s stock after selling 632 shares during the quarter. MAI Capital Management’s holdings in UFP Industries were worth $365,000 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 grew its stake in shares of UFP Industries by 8.4% during the 1st quarter. State of Wyoming now owns 1,294 shares of the construction company’s stock valued at $139,000 after purchasing an additional 100 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of UFP Industries by 24.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock worth $52,000 after buying an additional 102 shares during the last quarter. Vista Finance LLC boosted its holdings in shares of UFP Industries by 4.1% in the second quarter. Vista Finance LLC now owns 2,671 shares of the construction company’s stock worth $265,000 after buying an additional 104 shares during the last quarter. Great Lakes Advisors LLC grew 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 valued at $2,259,000 after buying an additional 105 shares during the period. Finally, Arkadios Wealth Advisors increased its holdings in UFP Industries by 2.9% during the second quarter. Arkadios Wealth Advisors now owns 4,393 shares of the construction company’s stock valued at $437,000 after buying an additional 123 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $93.53 on Thursday. The stock has a 50-day moving average price of $91.77 and a 200 day moving average price of $97.61. The stock has a market capitalization of $5.45 billion, a P/E ratio of 17.29 and a beta of 1.43. UFP Industries, Inc. has a 12-month low of $87.11 and a 12-month high of $140.04. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). UFP Industries had a return on equity of 10.16% and a net margin of 5.00%.The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. UFP Industries’s dividend payout ratio is currently 25.88%.

Analyst Upgrades and Downgrades

UFPI has been the topic of several analyst reports. DA Davidson upgraded shares of UFP Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $112.00 in a research note on Friday, October 31st. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. Stifel Nicolaus set a $95.00 price target on UFP Industries and gave the company a “hold” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a research report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $113.50.

About UFP Industries

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.