UFP Industries, Inc. $UFPI Stake Decreased by Bahl & Gaynor Inc.

Key Points

• Bahl & Gaynor Inc. has reduced its stake in UFP Industries, Inc. by 18.8%, now holding 26,229 shares worth approximately $2.81 million.
• UFP Industries reported earnings of $1.70 per share, missing estimates, and had a 3.5% decrease in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.35, with an annualized dividend yield of 1.3%, set to be paid on September 15th.

Bahl & Gaynor Inc. trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 18.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,229 shares of the construction company's stock after selling 6,062 shares during the quarter. Bahl & Gaynor Inc.'s holdings in UFP Industries were worth $2,808,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of UFPI. Putney Financial Group LLC acquired a new stake in UFP Industries during the 4th quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of UFP Industries during the first quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd increased its stake in shares of UFP Industries by 39.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock worth $45,000 after buying an additional 119 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in UFP Industries in the fourth quarter valued at $61,000. Finally, UMB Bank n.a. raised its holdings in UFP Industries by 182.1% in the first quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock valued at $61,000 after acquiring an additional 366 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

UFP Industries Stock Performance

UFPI stock traded down $1.05 during midday trading on Tuesday, reaching $104.96. The company had a trading volume of 342,545 shares, compared to its average volume of 349,045. The firm has a market capitalization of $6.15 billion, a PE ratio of 18.22 and a beta of 1.43. The stock has a 50 day moving average price of $101.95 and a 200 day moving average price of $103.52. UFP Industries, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $141.33. The company has a quick ratio of 3.16, a current ratio of 4.54 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have weighed in on UFPI. Loop Capital assumed coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price objective for the company. Zacks Research downgraded UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $134.00.

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.