Segall Bryant & Hamill LLC Decreases Stock Holdings in UFP Industries, Inc. $UFPI

Key Points

• Segall Bryant & Hamill cut its UFP Industries stake by 22% in the first quarter, selling 11,368 shares and retaining 40,194 shares worth approximately $3.7 million. Institutional investors collectively own 81.81% of the company.
• UFP Industries exceeded quarterly expectations, reporting $1.48 in EPS versus the $1.37 consensus and revenue of $1.88 billion versus $1.79 billion expected.
• The company declared a quarterly dividend of $0.36 per share, or $1.44 annualized, representing a 1.6% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $103.75.

Segall Bryant & Hamill LLC trimmed its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,194 shares of the construction company's stock after selling 11,368 shares during the period. Segall Bryant & Hamill LLC owned about 0.07% of UFP Industries worth $3,703,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of UFP Industries by 3.0% during the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company's stock valued at $6,597,000 after buying an additional 1,798 shares during the period. Integrated Wealth Concepts LLC boosted its position in UFP Industries by 8.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company's stock valued at $317,000 after acquiring an additional 221 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in UFP Industries by 10.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company's stock valued at $13,831,000 after acquiring an additional 12,043 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of UFP Industries by 90.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company's stock worth $54,000 after acquiring an additional 259 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of UFP Industries during the 2nd quarter worth approximately $232,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Stock Up 5.7%

Shares of NASDAQ:UFPI opened at $91.68 on Tuesday. The company has a current ratio of 3.98, a quick ratio of 2.64 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $85.58 and a two-hundred day simple moving average of $92.83. UFP Industries, Inc. has a 12-month low of $77.89 and a 12-month high of $118.00. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 21.03 and a beta of 1.23.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.11. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%.The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.79 billion. On average, research analysts anticipate that UFP Industries, Inc. will post 4.56 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 1st. UFP Industries's dividend payout ratio is 33.03%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. DA Davidson lowered their target price on UFP Industries from $110.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Weiss Ratings downgraded UFP Industries from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 2nd. BMO Capital Markets raised UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 price objective for the company in a research report on Tuesday, May 5th. Stifel Nicolaus dropped their target price on shares of UFP Industries from $100.00 to $87.00 and set a "hold" rating on the stock in a report on Monday, May 11th. Finally, Benchmark reduced their target price on shares of UFP Industries from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, UFP Industries currently has a consensus rating of "Hold" and an average price target of $103.75.

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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