GW&K Investment Management LLC Decreases Holdings in UFP Industries, Inc. $UFPI

GW&K Investment Management LLC decreased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 32.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 211,324 shares of the construction company’s stock after selling 103,689 shares during the period. GW&K Investment Management LLC’s holdings in UFP Industries were worth $19,242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in UFP Industries by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,247,346 shares of the construction company’s stock valued at $114,980,000 after buying an additional 23,905 shares in the last quarter. Numerai GP LLC purchased a new stake in UFP Industries in the 3rd quarter valued at approximately $3,562,000. SG Americas Securities LLC lifted its stake in UFP Industries by 454.4% in the 4th quarter. SG Americas Securities LLC now owns 21,499 shares of the construction company’s stock valued at $1,957,000 after buying an additional 17,621 shares in the last quarter. Flagship Capital Management Inc. purchased a new stake in UFP Industries in the 4th quarter valued at approximately $1,550,000. Finally, Horizon Investments LLC purchased a new stake in UFP Industries in the 4th quarter valued at approximately $1,120,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Down 1.6%

Shares of NASDAQ UFPI opened at $82.08 on Thursday. UFP Industries, Inc. has a 12-month low of $77.89 and a 12-month high of $118.00. The company has a market cap of $4.64 billion, a P/E ratio of 17.92 and a beta of 1.24. The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $87.23 and a 200 day moving average price of $94.50.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Research analysts anticipate that UFP Industries, Inc. will post 4.6 EPS for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.8%. UFP Industries’s dividend payout ratio (DPR) is currently 31.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on UFPI shares. Weiss Ratings cut UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. DA Davidson lowered their price objective on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Benchmark lowered their price objective on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Stifel Nicolaus lowered their price objective on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.40.

UFP Industries Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.