Bank of New York Mellon Corp Trims Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Bank of New York Mellon Corp lessened its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 4.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 551,264 shares of the construction company's stock after selling 26,568 shares during the quarter. Bank of New York Mellon Corp owned about 0.91% of UFP Industries worth $59,007,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UFPI. Norges Bank bought a new position in UFP Industries during the fourth quarter worth about $83,149,000. Thrivent Financial for Lutherans boosted its position in UFP Industries by 3,820.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company's stock worth $63,212,000 after purchasing an additional 546,830 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in UFP Industries by 39.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company's stock worth $174,241,000 after purchasing an additional 435,155 shares during the period. Boston Partners boosted its position in UFP Industries by 100.8% during the fourth quarter. Boston Partners now owns 672,231 shares of the construction company's stock worth $75,736,000 after purchasing an additional 337,463 shares during the period. Finally, Raymond James Financial Inc. bought a new position in UFP Industries during the fourth quarter worth about $30,457,000. Institutional investors own 81.81% of the company's stock.

UFP Industries Stock Performance

NASDAQ:UFPI traded down $1.59 on Friday, reaching $106.90. 681,441 shares of the company's stock were exchanged, compared to its average volume of 370,065. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.96 and a quick ratio of 3.44. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 17.50 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. The stock has a fifty day simple moving average of $99.80 and a 200-day simple moving average of $106.41.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 5.64% and a return on equity of 11.78%. UFP Industries's revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 earnings per share. As a group, sell-side analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.35 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 1.31%. UFP Industries's dividend payout ratio is currently 22.91%.

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.