Vest Financial LLC Cuts Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Vest Financial LLC cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 40.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,915 shares of the construction company's stock after selling 8,673 shares during the period. Vest Financial LLC's holdings in UFP Industries were worth $1,382,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. FMR LLC grew its stake in UFP Industries by 7.1% in the fourth quarter. FMR LLC now owns 1,751,264 shares of the construction company's stock worth $197,280,000 after purchasing an additional 115,687 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of 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 valued at $174,241,000 after buying an additional 435,155 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of UFP Industries by 5.0% during the fourth quarter. Franklin Resources Inc. now owns 1,287,833 shares of the construction company's stock valued at $145,074,000 after buying an additional 61,861 shares during the last quarter. Northern Trust Corp raised its holdings in UFP Industries by 9.7% during the fourth quarter. Northern Trust Corp now owns 1,111,147 shares of the construction company's stock worth $125,171,000 after purchasing an additional 98,533 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock worth $102,158,000 after purchasing an additional 31,381 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UFPI has been the topic of several recent research reports. Wall Street Zen lowered shares of UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Benchmark reiterated a "buy" rating and set a $135.00 price objective on shares of UFP Industries in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Stock Down 0.8%

UFPI stock opened at $96.58 on Friday. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 1 year low of $94.68 and a 1 year high of $141.33. The company has a fifty day simple moving average of $101.78 and a 200 day simple moving average of $111.05. The firm has a market cap of $5.83 billion, a PE ratio of 14.27 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.27). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 EPS. Sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, June 2nd. UFP Industries's dividend payout ratio is 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.

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