UFP Industries, Inc. (NASDAQ:UFPI) Stake Lessened by Royce & Associates LP

Royce & Associates LP reduced its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 620,312 shares of the construction company’s stock after selling 31,639 shares during the period. UFP Industries comprises approximately 0.7% of Royce & Associates LP’s holdings, making the stock its 13th biggest position. Royce & Associates LP owned 1.02% of UFP Industries worth $81,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of UFPI. Kayne Anderson Rudnick Investment Management LLC boosted its stake in UFP Industries by 0.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after acquiring an additional 28,601 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in UFP Industries by 3.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock valued at $116,467,000 after purchasing an additional 32,555 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in UFP Industries by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock valued at $90,857,000 after purchasing an additional 5,784 shares during the period. AQR Capital Management LLC increased its stake in shares of UFP Industries by 22.7% in the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after purchasing an additional 112,518 shares during the period. Finally, Copeland Capital Management LLC grew its holdings in UFP Industries by 1.0% in the 3rd quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company’s stock worth $71,667,000 after buying an additional 5,515 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Benchmark increased their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Stifel Nicolaus raised their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets boosted their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Stock Up 0.3 %

UFP Industries stock opened at $132.07 on Friday. UFP Industries, Inc. has a twelve month low of $107.49 and a twelve month high of $139.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The firm has a market cap of $8.02 billion, a PE ratio of 18.17 and a beta of 1.39. The firm’s 50 day moving average price is $129.12 and its two-hundred day moving average price is $121.82.

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

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.00%. UFP Industries’s dividend payout ratio (DPR) is 18.16%.

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.