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

Vest Financial LLC reduced its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 40.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new position in UFP Industries during the fourth quarter worth $83,149,000. Thrivent Financial for Lutherans raised its holdings in shares of UFP Industries by 3,820.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company's stock worth $63,212,000 after acquiring an additional 546,830 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of UFP Industries by 39.1% during the 4th 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 acquiring an additional 435,155 shares during the last quarter. Boston Partners boosted its position in shares of UFP Industries by 100.8% during the 4th quarter. Boston Partners now owns 672,231 shares of the construction company's stock valued at $75,736,000 after acquiring an additional 337,463 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of UFP Industries in the fourth quarter valued at about $30,457,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark reaffirmed a "buy" rating and set a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $143.00.

UFP Industries Trading Down 2.1%

UFPI stock traded down $2.06 during mid-day trading on Wednesday, hitting $98.19. 339,017 shares of the company were exchanged, compared to its average volume of 354,564. UFP Industries, Inc. has a 12-month low of $94.68 and a 12-month high of $141.33. The firm has a market capitalization of $5.93 billion, a P/E ratio of 14.49 and a beta of 1.49. The business has a fifty day simple moving average of $101.47 and a 200-day simple moving average of $110.59. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.61 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The business's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.96 EPS. On average, equities research analysts predict that UFP Industries, Inc. will post 7.08 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 Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 1.43%. UFP Industries's dividend payout ratio is presently 22.91%.

About UFP Industries

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.