GW&K Investment Management LLC Cuts Holdings in UFP Industries, Inc. $UFPI

GW&K Investment Management LLC decreased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 11.6% in the third quarter, Holdings Channel reports. The firm owned 315,013 shares of the construction company’s stock after selling 41,472 shares during the quarter. GW&K Investment Management LLC’s holdings in UFP Industries were worth $29,451,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after purchasing an additional 114 shares in the last quarter. Winnow Wealth LLC purchased a new position in UFP Industries in the 3rd quarter worth about $51,000. EverSource Wealth Advisors LLC raised its position in UFP Industries by 90.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after buying an additional 259 shares during the last quarter. AlphaQuest LLC bought a new position in UFP Industries during the 2nd quarter valued at about $91,000. Finally, Bryn Mawr Trust Advisors LLC purchased a new stake in shares of UFP Industries during the 2nd quarter valued at about $202,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

UFPI has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. DA Davidson reaffirmed a “buy” rating and issued a $112.00 target price on shares of UFP Industries in a research report on Tuesday, February 24th. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Stifel Nicolaus set a $98.00 price target on UFP Industries in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.33.

UFP Industries Stock Down 1.9%

Shares of UFPI stock opened at $96.66 on Friday. The company has a current ratio of 4.59, a quick ratio of 3.13 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12 month low of $87.11 and a 12 month high of $118.00. The stock has a market cap of $5.47 billion, a P/E ratio of 19.37 and a beta of 1.48. The company has a 50 day simple moving average of $104.36 and a two-hundred day simple moving average of $97.73.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.33). UFP Industries had a return on equity of 9.27% and a net margin of 4.66%.The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business earned $1.12 EPS. The company’s revenue was down 9.0% compared to the same quarter last year. On average, research analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.36 per share. This is a boost from UFP Industries’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, March 2nd. UFP Industries’s dividend payout ratio is presently 28.86%.

Insider Transactions at UFP Industries

In other UFP Industries news, Chairman Matthew J. Missad sold 11,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the sale, the chairman owned 310,533 shares in the company, valued at $28,649,774.58. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.56% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.