Vanguard Group Inc. Sells 92,482 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Vanguard Group Inc. reduced its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,790,416 shares of the construction company's stock after selling 92,482 shares during the quarter. Vanguard Group Inc. owned about 11.16% of UFP Industries worth $726,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Putney Financial Group LLC purchased a new stake in shares of UFP Industries in the 4th quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of UFP Industries in the first quarter worth approximately $36,000. Kapitalo Investimentos Ltda bought a new stake in UFP Industries in the fourth quarter valued at $61,000. UMB Bank n.a. boosted its holdings in UFP Industries by 182.1% in the first quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock valued at $61,000 after acquiring an additional 366 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in UFP Industries by 222.5% in the first quarter. Signaturefd LLC now owns 816 shares of the construction company's stock valued at $87,000 after acquiring an additional 563 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Loop Capital began coverage on UFP Industries in a research report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price objective for the company.

UFP Industries Stock Down 3.0%

Shares of UFPI traded down $3.20 during trading hours on Thursday, hitting $103.08. The company had a trading volume of 217,163 shares, compared to its average volume of 346,387. The firm has a fifty day moving average price of $101.05 and a 200-day moving average price of $104.36. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 17.90 and a beta of 1.43. UFP Industries, Inc. has a 52-week low of $93.00 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued 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). UFP Industries had a return on equity of 10.95% and a net margin of 5.31%. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same period last year, the firm posted $2.05 EPS. UFP Industries's quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

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

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.