KBC Group NV Cuts Stake in UFP Industries, Inc. $UFPI

KBC Group NV trimmed its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 38.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,742 shares of the construction company’s stock after selling 1,094 shares during the quarter. KBC Group NV’s holdings in UFP Industries were worth $173,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of UFPI. Allianz Asset Management GmbH increased its holdings in shares of UFP Industries by 10.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock worth $24,767,000 after buying an additional 23,152 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in UFP Industries by 4.4% during the second quarter. Mutual of America Capital Management LLC now owns 166,340 shares of the construction company’s stock worth $16,528,000 after acquiring an additional 7,063 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of UFP Industries by 0.7% in the 2nd quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company’s stock worth $11,094,000 after purchasing an additional 759 shares during the period. World Investment Advisors acquired a new position in shares of UFP Industries in the 2nd quarter valued at about $394,000. Finally, Boston Partners grew its holdings in shares of UFP Industries by 25.1% during the 2nd quarter. Boston Partners now owns 1,838,108 shares of the construction company’s stock worth $182,636,000 after purchasing an additional 368,808 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on UFPI shares. Loop Capital assumed coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price target on the stock. DA Davidson raised shares of UFP Industries from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $112.00 in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. Finally, Stifel Nicolaus set a $95.00 price objective on UFP Industries and gave the company a “hold” rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $113.50.

UFP Industries Stock Performance

UFP Industries stock opened at $88.65 on Thursday. UFP Industries, Inc. has a 12-month low of $87.11 and a 12-month high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 16.39 and a beta of 1.43. The firm’s fifty day moving average price is $92.54 and its 200 day moving average price is $97.84.

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

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, December 1st. This represents a $1.40 annualized dividend and a yield of 1.6%. UFP Industries’s payout ratio is currently 25.88%.

UFP Industries Company Profile

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.