Mutual of America Capital Management LLC Buys 7,063 Shares of UFP Industries, Inc. $UFPI

Key Points

• Mutual of America Capital Management LLC increased its stake in UFP Industries by 4.4%, now holding 166,340 shares worth approximately $16.5 million.
• UFP Industries reported a missed earnings estimate with an EPS of $1.70, below the expected $1.95, and a revenue decline of 3.5% year-over-year.
• The company declared a quarterly dividend of $0.35 per share, yielding 1.5%, with a payout ratio currently at 24.31%.

Mutual of America Capital Management LLC raised its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,340 shares of the construction company's stock after buying an additional 7,063 shares during the period. Mutual of America Capital Management LLC owned about 0.28% of UFP Industries worth $16,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of UFPI. Nordea Investment Management AB boosted its holdings in shares of UFP Industries by 0.7% in the second quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company's stock valued at $11,094,000 after purchasing an additional 759 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of UFP Industries by 10.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company's stock worth $24,767,000 after buying an additional 23,152 shares during the period. Curated Wealth Partners LLC grew its position in shares of UFP Industries by 2.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 5,051 shares of the construction company's stock worth $502,000 after buying an additional 135 shares in the last quarter. Verdence Capital Advisors LLC grew its position in shares of UFP Industries by 6.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 2,227 shares of the construction company's stock worth $221,000 after buying an additional 126 shares in the last quarter. Finally, Cascade Investment Advisors Inc. increased its stake in shares of UFP Industries by 1.3% during the second quarter. Cascade Investment Advisors Inc. now owns 10,219 shares of the construction company's stock valued at $1,015,000 after buying an additional 135 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $90.66 on Friday. UFP Industries, Inc. has a 12 month low of $88.99 and a 12 month high of $141.33. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 15.74 and a beta of 1.45. The company has a 50 day simple moving average of $97.51 and a two-hundred day simple moving average of $100.01.

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

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were given a dividend of $0.35 per share. The ex-dividend date was Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. UFP Industries's dividend payout ratio is currently 24.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on UFPI shares. Zacks Research downgraded shares of UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. Stifel Nicolaus set a $95.00 target price on UFP Industries and gave the company a "hold" rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a "hold (c)" rating on shares of UFP Industries in a research report on Wednesday, October 8th. Finally, Loop Capital initiated coverage on shares of UFP Industries in a research note on Wednesday, July 23rd. They issued a "hold" rating and a $112.00 target price for the company. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $124.25.

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.

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