Vestmark Advisory Solutions Inc. Lowers Position in UFP Industries, Inc. $UFPI

Vestmark Advisory Solutions Inc. decreased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 53.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,686 shares of the construction company’s stock after selling 28,672 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in UFP Industries were worth $2,453,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bryn Mawr Trust Advisors LLC bought a new stake in UFP Industries during the second quarter valued at approximately $202,000. Bank of New York Mellon Corp raised its position in shares of UFP Industries by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 561,467 shares of the construction company’s stock valued at $55,787,000 after buying an additional 10,203 shares in the last quarter. IFG Advisory LLC purchased a new stake in shares of UFP Industries during the 2nd quarter valued at $261,000. Strs Ohio raised its position in shares of UFP Industries by 5.3% during the 2nd quarter. Strs Ohio now owns 15,800 shares of the construction company’s stock valued at $1,570,000 after buying an additional 800 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of UFP Industries by 1.6% during the 2nd quarter. Atria Investments Inc now owns 16,316 shares of the construction company’s stock worth $1,621,000 after acquiring an additional 251 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

UFP Industries Price Performance

Shares of UFP Industries stock opened at $92.00 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. UFP Industries, Inc. has a one year low of $88.78 and a one year high of $141.33. The business’s 50 day simple moving average is $94.31 and its two-hundred day simple moving average is $98.55. The stock has a market capitalization of $5.39 billion, a P/E ratio of 17.01 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the company posted $1.64 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, December 1st. UFP Industries’s dividend payout ratio (DPR) is 25.88%.

About UFP Industries

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.