Victory Capital Management Inc. Cuts Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Victory Capital Management Inc. trimmed its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 751,874 shares of the construction company’s stock after selling 27,941 shares during the quarter. Victory Capital Management Inc.’s holdings in UFP Industries were worth $98,653,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its stake in UFP Industries by 222.6% in the 1st quarter. SG Americas Securities LLC now owns 3,781 shares of the construction company’s stock valued at $465,000 after buying an additional 2,609 shares in the last quarter. Sei Investments Co. boosted its stake in shares of UFP Industries by 16.7% in the first quarter. Sei Investments Co. now owns 79,160 shares of the construction company’s stock worth $9,738,000 after acquiring an additional 11,331 shares during the last quarter. ProShare Advisors LLC increased its position in shares of UFP Industries by 4.7% during the first quarter. ProShare Advisors LLC now owns 13,816 shares of the construction company’s stock worth $1,700,000 after purchasing an additional 616 shares in the last quarter. Entropy Technologies LP acquired a new position in UFP Industries in the 1st quarter valued at $363,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in UFP Industries by 21.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,890 shares of the construction company’s stock valued at $2,570,000 after purchasing an additional 3,701 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UFPI. Wedbush reiterated an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. BMO Capital Markets increased their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Stifel Nicolaus boosted their target price on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Benchmark upped their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Price Performance

UFP Industries stock opened at $131.62 on Thursday. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $128.76 and a 200 day moving average price of $121.75. UFP Industries, Inc. has a 12-month low of $106.30 and a 12-month high of $139.54. The stock has a market cap of $7.99 billion, a P/E ratio of 18.10 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the business earned $2.10 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Sell-side analysts anticipate that UFP Industries, Inc. will post 7.01 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 1.00%. UFP Industries’s dividend payout ratio is currently 18.16%.

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.