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 trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 1.03% of UFP Industries worth $66,375,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of UFP Industries by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,917,463 shares of the construction company's stock worth $205,237,000 after acquiring an additional 25,903 shares in the last quarter. Boston Partners grew its position in UFP Industries by 118.6% in the first quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock valued at $157,270,000 after purchasing an additional 797,069 shares in the last quarter. Northern Trust Corp grew its position in UFP Industries by 1.6% in the first quarter. Northern Trust Corp now owns 1,129,244 shares of the construction company's stock valued at $120,874,000 after purchasing an additional 18,097 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in UFP Industries by 14.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,051,613 shares of the construction company's stock valued at $112,112,000 after buying an additional 132,595 shares during the last quarter. Finally, Royce & Associates LP lifted its position in UFP Industries by 10.9% during the 1st quarter. Royce & Associates LP now owns 697,311 shares of the construction company's stock worth $74,640,000 after buying an additional 68,742 shares in the last quarter. Institutional investors own 81.81% of the company's stock.

UFP Industries Stock Performance

Shares of UFPI traded down $1.10 during mid-day trading on Monday, reaching $100.97. The company's stock had a trading volume of 271,216 shares, compared to its average volume of 318,288. UFP Industries, Inc. has a 1-year low of $93.00 and a 1-year high of $141.33. The stock has a market cap of $5.91 billion, a P/E ratio of 17.53 and a beta of 1.47. The business has a 50-day simple moving average of $102.37 and a two-hundred day simple moving average of $103.06. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07.

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

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.40 annualized dividend and a yield of 1.4%. UFP Industries's payout ratio is currently 24.31%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research downgraded UFP Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. Loop Capital started coverage on UFP Industries in a research note on Wednesday, July 23rd. They issued a "hold" rating and a $112.00 price target for the company. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, UFP Industries currently 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.