UFP Industries, Inc. $UFPI Shares Sold by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC has reduced its stake in UFP Industries, Inc. by 19.2%, now holding 14,800 shares valued at approximately $1.57 million.
• UFP Industries reported a missed earnings per share estimate of $1.70, falling short of the consensus estimate of $1.95 for the quarter ending July 28th.
• The company recently announced a quarterly dividend of $0.35 per share, resulting in an annualized yield of 1.5% and a payout ratio of 24.31%.

NorthCrest Asset Manangement LLC decreased its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 19.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,800 shares of the construction company's stock after selling 3,509 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in UFP Industries were worth $1,565,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Putney Financial Group LLC acquired a new stake in shares of UFP Industries in the fourth quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in UFP Industries during the first quarter worth about $36,000. Caitong International Asset Management Co. Ltd boosted its position in UFP Industries by 39.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock worth $45,000 after acquiring an additional 119 shares during the last quarter. UMB Bank n.a. boosted its position in UFP Industries by 182.1% during the first quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock worth $61,000 after acquiring an additional 366 shares during the last quarter. Finally, Signaturefd LLC boosted its position in UFP Industries by 222.5% during the first quarter. Signaturefd LLC now owns 816 shares of the construction company's stock worth $87,000 after acquiring an additional 563 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

Analyst Ratings Changes

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

UFP Industries Stock Down 0.3%

Shares of NASDAQ UFPI traded down $0.30 during mid-day trading on Tuesday, reaching $94.89. The company had a trading volume of 47,161 shares, compared to its average volume of 425,530. 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 firm has a 50 day simple moving average of $101.08 and a two-hundred day simple moving average of $102.08. The stock has a market cap of $5.56 billion, a P/E ratio of 16.47 and a beta of 1.47. UFP Industries, Inc. has a 52-week low of $93.00 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its earnings results on Monday, July 28th. The construction company reported $1.70 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 5.31% and a return on equity of 10.95%. The company's quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $2.05 earnings per share. Sell-side 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. Investors of record on Monday, September 1st were paid 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%.

UFP Industries Company 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.