UFP Industries, Inc. $UFPI Shares Sold by Copeland Capital Management LLC

Key Points

• Copeland Capital Management reduced its UFP Industries stake by 4.3% in the third quarter, selling 24,624 shares and retaining 553,686 shares worth approximately $42.8 million. Institutional investors collectively own 81.81% of the company.
• UFP Industries shares opened at $75.85, near the company’s one-year low of $73.72 and below its 50-day and 200-day moving averages. The stock has a market capitalization of $4.18 billion and a P/E ratio of 17.40.
• The company exceeded quarterly earnings expectations, reporting $1.48 in EPS and $1.88 billion in revenue, while maintaining a $0.36 quarterly dividend. Analysts’ consensus rating is “Hold,” with an average price target of $104.50.

Copeland Capital Management LLC decreased its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 553,686 shares of the construction company's stock after selling 24,624 shares during the quarter. Copeland Capital Management LLC owned approximately 1.00% of UFP Industries worth $42,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new position in UFP Industries during the second quarter worth approximately $688,063,000. Wasatch Advisors LP increased its holdings in shares of UFP Industries by 32.9% during the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company's stock worth $187,732,000 after buying an additional 504,609 shares during the last quarter. River Road Asset Management LLC increased its holdings in shares of UFP Industries by 64.1% during the 4th quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company's stock worth $80,118,000 after buying an additional 343,830 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in shares of UFP Industries by 27.1% during the 1st quarter. Deprince Race & Zollo Inc. now owns 579,797 shares of the construction company's stock worth $53,411,000 after buying an additional 123,500 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of UFP Industries in the 2nd quarter worth $34,067,000. Institutional investors and hedge funds own 81.81% of the company's stock.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI opened at $75.85 on Wednesday. The business's 50-day simple moving average is $83.48 and its 200 day simple moving average is $85.94. The company has a market cap of $4.18 billion, a P/E ratio of 17.40 and a beta of 1.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98. UFP Industries, Inc. has a one year low of $73.72 and a one year high of $118.00.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.11. The firm had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.79 billion. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. On average, sell-side analysts forecast that UFP Industries, Inc. will post 4.47 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 1.9%. UFP Industries's payout ratio is 33.03%.

Analyst Ratings Changes

UFPI has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on shares of UFP Industries in a research report on Wednesday, September 30th. They set a "market perform" rating for the company. Stifel Nicolaus set a $90.00 price objective on shares of UFP Industries and gave the stock a "hold" rating in a research note on Monday, August 24th. Weiss Ratings downgraded shares of UFP Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday. Finally, Zacks Research raised shares of UFP Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $104.50.

UFP Industries Profile

UFP Industries, Inc is a manufacturer and supplier of wood, composite and other products serving the retail, industrial and construction markets. The company's offerings include outdoor living products such as decking, fencing, landscaping and garden products, as well as structural and component products used in residential and commercial construction.

UFP Industries also provides pallets, crates, specialty wood packaging and other custom products for industrial customers. Its construction-related operations supply components for manufactured housing, residential construction, commercial building and recreational vehicles.

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