Price T Rowe Associates Inc. MD Sells 17,338 Shares of UFP Industries, Inc. $UFPI

Key Points

• Price T Rowe Associates Inc. MD has sold 17,338 shares of UFP Industries, reducing its stake by 2.7% to approximately 1.03% of the company.
• UFP Industries reported earnings of $1.70 per share, missing analyst estimates of $1.95, alongside a revenue decline of 3.5% year-over-year.
• The company announced a $0.35 quarterly dividend with a yield of 1.3%, to be paid on September 15th to shareholders of record as of September 1st.

Price T Rowe Associates Inc. MD lowered its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 620,081 shares of the construction company's stock after selling 17,338 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.03% of UFP Industries worth $66,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UFPI. Hsbc Holdings PLC lifted its holdings in shares of UFP Industries by 733.7% in the fourth quarter. Hsbc Holdings PLC now owns 25,604 shares of the construction company's stock worth $2,887,000 after acquiring an additional 22,533 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of UFP Industries in the fourth quarter worth about $208,000. Northern Trust Corp lifted its holdings in shares of UFP Industries by 9.7% in the fourth quarter. Northern Trust Corp now owns 1,111,147 shares of the construction company's stock worth $125,171,000 after acquiring an additional 98,533 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of UFP Industries in the fourth quarter worth about $61,000. Finally, Aptus Capital Advisors LLC lifted its holdings in shares of UFP Industries by 23.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 72,642 shares of the construction company's stock worth $8,183,000 after acquiring an additional 13,983 shares during the last quarter. Institutional investors own 81.81% of the company's stock.

Wall Street Analysts Forecast Growth

UFPI has been the subject of several recent research reports. Loop Capital initiated coverage on UFP Industries in a research note on Wednesday, July 23rd. They issued 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 analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $134.00.

UFP Industries Stock Performance

UFP Industries stock opened at $104.96 on Wednesday. The business has a 50 day moving average of $101.95 and a 200-day moving average of $103.52. UFP Industries, Inc. has a 1 year low of $93.00 and a 1 year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The company has a market capitalization of $6.15 billion, a P/E ratio of 18.22 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its 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). The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 EPS. On average, equities research analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. 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.

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