State of Wyoming Cuts Stake in UFP Industries, Inc. $UFPI

State of Wyoming cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 72.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,839 shares of the construction company’s stock after selling 7,595 shares during the period. State of Wyoming’s holdings in UFP Industries were worth $258,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of UFPI. Geneos Wealth Management Inc. grew its stake 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 acquiring an additional 114 shares in the last quarter. Signaturefd LLC grew its stake in shares of UFP Industries by 66.1% during the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock valued at $35,000 after acquiring an additional 154 shares in the last quarter. Danske Bank A S grew its stake in shares of UFP Industries by 300.0% during the fourth quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. IFP Advisors Inc grew its stake in shares of UFP Industries by 84.8% during the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after acquiring an additional 190 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of UFP Industries by 648.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock valued at $41,000 after acquiring an additional 376 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $82.08 on Thursday. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $87.23 and its two-hundred day moving average price is $94.50. UFP Industries, Inc. has a 52-week low of $77.89 and a 52-week high of $118.00. The stock has a market capitalization of $4.64 billion, a P/E ratio of 17.92 and a beta of 1.24.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the business earned $1.30 EPS. The business’s revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.36 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 31.44%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UFPI. Benchmark lowered their target price on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Stifel Nicolaus lowered their target price on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. DA Davidson lowered their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, UFP Industries presently has an average rating of “Hold” and an average target price of $105.40.

About UFP Industries

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.