Vest Financial LLC Decreases Stake in UFP Industries, Inc. $UFPI

Key Points

• Vest Financial LLC has reduced its stake in UFP Industries, Inc. by 36.1%, now owning 8,250 shares valued at $820,000 after selling 4,665 shares in the second quarter.
• UFP Industries reported earnings of $1.70 per share for the last quarter, missing analyst expectations of $1.95 per share, and indicated a 3.5% decrease in quarterly revenue compared to the previous year.
• The company has announced a quarterly dividend of $0.35 per share, with a yield of 1.5% and a payout ratio of 24.31%.

Vest Financial LLC lessened its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 36.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,250 shares of the construction company's stock after selling 4,665 shares during the quarter. Vest Financial LLC's holdings in UFP Industries were worth $820,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UFPI. GAMMA Investing LLC lifted its position in shares of UFP Industries by 107.5% during the 1st quarter. GAMMA Investing LLC now owns 1,500 shares of the construction company's stock worth $161,000 after buying an additional 777 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of UFP Industries during the 1st quarter worth approximately $538,000. State of Alaska Department of Revenue lifted its position in shares of UFP Industries by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 7,115 shares of the construction company's stock worth $761,000 after buying an additional 190 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of UFP Industries by 32.8% during the 1st quarter. Johnson Investment Counsel Inc. now owns 26,425 shares of the construction company's stock worth $2,829,000 after buying an additional 6,520 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of UFP Industries during the 1st quarter worth approximately $1,534,000. Hedge funds and other institutional investors own 81.81% of the company's stock.

UFP Industries Stock Performance

Shares of UFPI opened at $91.41 on Thursday. 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 $5.35 billion, a P/E ratio of 15.87 and a beta of 1.45. The company's fifty day moving average is $97.83 and its two-hundred day moving average is $100.29. UFP Industries, Inc. has a 1 year low of $88.99 and a 1 year high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.25). The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The business's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 earnings per share. On average, 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, September 15th. Shareholders of record on Monday, September 1st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, August 29th. UFP Industries's payout ratio is currently 24.31%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Loop Capital assumed coverage on shares of UFP Industries in a research report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price objective for the company. Zacks Research cut shares of UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of UFP Industries in a report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $95.00 target price on shares of UFP Industries and gave the company a "hold" rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $124.25.

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.

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