UFP Industries, Inc. $UFPI Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 269,694 shares of the construction company’s stock after selling 22,885 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.49% of UFP Industries worth $20,826,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in UFPI. Heritage Family Offices LLP purchased a new stake in shares of UFP Industries in the third quarter worth $79,000. Covestor Ltd grew its holdings in UFP Industries by 32.2% during the 3rd quarter. Covestor Ltd now owns 1,059 shares of the construction company’s stock valued at $82,000 after buying an additional 258 shares in the last quarter. Markel Group Inc. increased its position in UFP Industries by 250.0% in the third quarter. Markel Group Inc. now owns 14,000 shares of the construction company’s stock worth $1,081,000 after purchasing an additional 10,000 shares during the last quarter. Bridge City Capital LLC increased its holdings in shares of UFP Industries by 46.3% in the 3rd quarter. Bridge City Capital LLC now owns 50,384 shares of the construction company’s stock worth $3,891,000 after buying an additional 15,944 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in UFP Industries in the third quarter worth about $27,000. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

UFPI has been the topic of several analyst reports. DA Davidson reissued a “buy” rating and set a $105.00 target price on shares of UFP Industries in a research report on Tuesday, October 27th. Stifel Nicolaus set a $85.00 target price on UFP Industries and gave the company a “hold” rating in a research report on Monday, October 26th. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 3rd. Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, October 12th. Finally, Oppenheimer began coverage on UFP Industries in a research note on Wednesday, September 30th. They set a “market perform” rating for the company. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $103.25.

UFP Industries Trading Down 0.8%

Shares of UFPI opened at $80.11 on Thursday. UFP Industries, Inc. has a 1-year low of $73.72 and a 1-year high of $118.00. The company has a 50-day moving average of $80.07 and a 200 day moving average of $88.72. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 19.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.86 and a quick ratio of 2.58.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, October 28th. The construction company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.15). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.60 billion. UFP Industries had a return on equity of 7.53% and a net margin of 3.61%. On average, research analysts expect that UFP Industries, Inc. will post 4.18 EPS for the current year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.36 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.8%. UFP Industries’s payout ratio is presently 34.95%.

UFP Industries Profile

UFP Industries, Inc. is a manufacturer and distributor of wood and other materials used in construction, packaging and retail products. Founded in 1955 as Universal Forest Products, the company adopted its current name in 2020. Its businesses supply products such as lumber, decking and other outdoor-living materials; pallets, crates and custom industrial packaging; and components for residential and commercial construction. UFP also serves customers in manufactured housing and other building-related markets.