American Century Companies Inc. Reduces Stock Holdings in UFP Industries, Inc. $UFPI

Key Points

• American Century Companies Inc. reduced its stake in UFP Industries, Inc. by 15% to 188,908 shares, valued at approximately $20.2 million. This follows their sale of 33,410 shares in the recent quarter.
• UFP Industries recently declared a quarterly dividend of $0.35 per share, equating to an annualized dividend yield of 1.3%, with the record date set for September 1st.
• Analyst ratings for UFP Industries are mixed, with an average rating of "Hold" and a price target of $134.00, following recent downgrades and adjustments by various institutions.

American Century Companies Inc. cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 15.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,908 shares of the construction company's stock after selling 33,410 shares during the quarter. American Century Companies Inc. owned about 0.31% of UFP Industries worth $20,221,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Putney Financial Group LLC purchased a new position in UFP Industries during the fourth quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in UFP Industries during the first quarter worth about $36,000. Caitong International Asset Management Co. Ltd boosted its holdings in UFP Industries by 39.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock valued at $45,000 after purchasing an additional 119 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of UFP Industries in the 4th quarter valued at approximately $61,000. Finally, UMB Bank n.a. increased its holdings in shares of UFP Industries by 182.1% during the 1st quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock worth $61,000 after buying an additional 366 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Zacks Research lowered UFP Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. Loop Capital initiated coverage on UFP Industries in a research report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $134.00.

UFP Industries Stock Down 1.0%

Shares of UFPI traded down $1.05 during midday trading on Tuesday, hitting $104.96. The company had a trading volume of 342,545 shares, compared to its average volume of 349,045. UFP Industries, Inc. has a 1 year low of $93.00 and a 1 year high of $141.33. The firm has a market capitalization of $6.15 billion, a P/E ratio of 18.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. The company's 50-day simple moving average is $101.95 and its 200-day simple moving average is $103.52.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25). UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The firm's revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. UFP Industries's dividend payout ratio is 24.31%.

UFP Industries 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.