UBS Group AG Sells 229,619 Shares of UFP Industries, Inc. $UFPI

UBS Group AG trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 53.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 199,821 shares of the construction company’s stock after selling 229,619 shares during the period. UBS Group AG owned approximately 0.34% of UFP Industries worth $18,194,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Millennium Management LLC boosted its position in shares of UFP Industries by 209.9% during the third quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock valued at $39,765,000 after buying an additional 288,093 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in UFP Industries in the 2nd quarter worth about $20,151,000. Jane Street Group LLC lifted its stake in UFP Industries by 121.9% during the 2nd quarter. Jane Street Group LLC now owns 267,818 shares of the construction company’s stock valued at $26,610,000 after acquiring an additional 147,100 shares during the period. Qube Research & Technologies Ltd bought a new position in UFP Industries during the 2nd quarter valued at about $10,428,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of UFP Industries during the 2nd quarter valued at about $9,838,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Down 1.0%

UFPI opened at $82.27 on Wednesday. The firm’s 50 day simple moving average is $91.87 and its two-hundred day simple moving average is $95.99. The company has a market capitalization of $4.65 billion, a PE ratio of 17.96 and a beta of 1.29. UFP Industries, Inc. has a 1-year low of $80.06 and a 1-year high of $118.00. The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that UFP Industries, Inc. will post 4.77 EPS for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.36 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. UFP Industries’s dividend payout ratio is presently 31.44%.

Analyst Ratings Changes

A number of analysts have recently commented on UFPI shares. DA Davidson reduced their price target on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Stifel Nicolaus cut their target price on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Finally, Benchmark lowered their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, UFP Industries presently has a consensus rating of “Hold” and an average target price of $105.40.

UFP Industries 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.