UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stake in UFP Industries, Inc. $UFPI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 10.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,451 shares of the construction company’s stock after selling 10,728 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in UFP Industries were worth $8,661,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of UFPI. IAG Wealth Partners LLC purchased a new position in UFP Industries in the first quarter valued at approximately $28,000. Root Financial Partners LLC increased its position in UFP Industries by 86.0% in the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock worth $29,000 after buying an additional 148 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after buying an additional 114 shares during the period. IFP Advisors Inc raised its stake in shares of UFP Industries by 84.8% in the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after buying an additional 190 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in shares of UFP Industries by 117.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock valued at $38,000 after buying an additional 223 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on UFPI. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Weiss Ratings upgraded UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Finally, Stifel Nicolaus set a $90.00 price objective on shares of UFP Industries and gave the company a “hold” rating in a report on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.50.

UFP Industries Stock Performance

Shares of UFPI stock opened at $84.38 on Tuesday. The company’s fifty day simple moving average is $87.62 and its two-hundred day simple moving average is $89.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64. UFP Industries, Inc. has a 1 year low of $77.89 and a 1 year high of $118.00. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 19.35 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.79 billion. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. As a group, analysts anticipate that UFP Industries, Inc. will post 4.51 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.36 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 1.7%. UFP Industries’s dividend payout ratio (DPR) is currently 33.03%.

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.