Pictet Asset Management Holding SA Sells 11,188 Shares of UFP Industries, Inc. $UFPI

Key Points

• Pictet Asset Management cut its UFP stake by 3.5%, selling 11,188 shares and now holds 311,164 shares (about 0.53% of the company) worth roughly $28.33 million.
• UFP reported an earnings miss—EPS $0.89 vs. $1.15 expected and revenue $1.46 billion vs. $1.51 billion—sending the stock lower (opened at $89.49, down ~3.7%) with revenue down 8.4% year‑over‑year.
• The company declared a quarterly dividend of $0.36 per share (annualized $1.44) with an ex‑dividend date of June 1 and a yield of about 1.6%.

Pictet Asset Management Holding SA reduced its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,164 shares of the construction company's stock after selling 11,188 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.53% of UFP Industries worth $28,331,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Geneos Wealth Management Inc. boosted its stake in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock worth $32,000 after purchasing an additional 114 shares in the last quarter. US Bancorp DE increased its stake in shares of UFP Industries by 2.3% in the third quarter. US Bancorp DE now owns 5,439 shares of the construction company's stock valued at $508,000 after buying an additional 122 shares in the last quarter. Inspire Advisors LLC increased its stake in shares of UFP Industries by 2.2% in the third quarter. Inspire Advisors LLC now owns 6,117 shares of the construction company's stock valued at $572,000 after buying an additional 129 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of UFP Industries by 6.1% in the third quarter. Profund Advisors LLC now owns 2,426 shares of the construction company's stock valued at $227,000 after buying an additional 139 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of UFP Industries by 66.1% in the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company's stock valued at $35,000 after buying an additional 154 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UFPI. BMO Capital Markets reissued a "market perform" rating and set a $108.00 price objective (down from $112.00) on shares of UFP Industries in a report on Monday, April 20th. DA Davidson dropped their target price on shares of UFP Industries from $112.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of UFP Industries in a research report on Tuesday, January 27th. Finally, Zacks Research cut shares of UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, UFP Industries presently has an average rating of "Hold" and an average target price of $107.00.

UFP Industries Trading Down 3.7%

Shares of UFPI opened at $89.49 on Friday. The stock's fifty day simple moving average is $94.61 and its 200-day simple moving average is $96.26. The firm has a market capitalization of $5.08 billion, a PE ratio of 19.54 and a beta of 1.44. UFP Industries, Inc. has a 12-month low of $84.82 and a 12-month high of $118.00. The company has a quick ratio of 3.13, a current ratio of 4.59 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.26). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a return on equity of 8.46% and a net margin of 4.31%.UFP Industries's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. As a group, research analysts predict that UFP Industries, Inc. will post 5.19 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.36 per share. The ex-dividend date is Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. UFP Industries's payout ratio is currently 28.86%.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.

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