UBS Group AG Sells 229,619 Shares of UFP Industries, Inc. $UFPI

UBS Group AG lowered its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 53.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 199,821 shares of the construction company’s stock after selling 229,619 shares during the period. UBS Group AG’s holdings in UFP Industries were worth $18,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of UFPI. Millennium Management LLC increased its stake in shares of UFP Industries by 209.9% in the third quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after purchasing an additional 288,093 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of UFP Industries during the 2nd quarter valued at $20,151,000. Jane Street Group LLC boosted its holdings in UFP Industries by 121.9% in the 2nd quarter. Jane Street Group LLC now owns 267,818 shares of the construction company’s stock worth $26,610,000 after buying an additional 147,100 shares during the period. Qube Research & Technologies Ltd bought a new position in UFP Industries in the 2nd quarter worth $10,428,000. Finally, Engineers Gate Manager LP purchased a new stake in UFP Industries in the 2nd quarter worth $9,838,000. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Stock Down 1.0%

UFPI opened at $82.27 on Wednesday. The company has a market capitalization of $4.65 billion, a PE ratio of 17.96 and a beta of 1.29. The firm has a 50-day simple moving average of $91.87 and a two-hundred day simple moving average of $95.99. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52 week low of $80.06 and a 52 week high of $118.00.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Wednesday, April 29th. The construction company reported $0.89 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 firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. UFP Industries’s quarterly revenue was down 8.4% on a year-over-year basis. Analysts forecast that UFP Industries, Inc. will post 4.77 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. UFP Industries’s dividend payout ratio is 31.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on UFPI shares. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. DA Davidson decreased their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Benchmark lowered their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $105.40.

UFP Industries Profile

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.