UFP Industries, Inc. $UFPI Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 61.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 63,000 shares of the construction company’s stock after selling 100,709 shares during the period. Renaissance Technologies LLC’s holdings in UFP Industries were worth $5,804,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of UFP Industries by 3.0% during the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock worth $6,597,000 after acquiring an additional 1,798 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of UFP Industries by 8.1% in the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after acquiring an additional 221 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in UFP Industries by 10.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock valued at $13,831,000 after purchasing an additional 12,043 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in UFP Industries by 90.9% in the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock valued at $54,000 after purchasing an additional 259 shares during the period. Finally, Walleye Capital LLC acquired a new position in UFP Industries during the 2nd quarter worth $232,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Down 0.0%

UFPI stock opened at $92.70 on Thursday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 21.26 and a beta of 1.23. The company has a fifty day moving average price of $86.01 and a 200 day moving average price of $92.64. 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 12 month low of $77.89 and a 12 month high of $118.00.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.79 billion. Sell-side analysts expect that UFP Industries, Inc. will post 4.56 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 1st. UFP Industries’s payout ratio is 33.03%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stifel Nicolaus cut their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. DA Davidson cut their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Benchmark cut their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings cut shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $103.75.

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.