JLB & Associates Inc. Reduces Stake in UFP Industries, Inc. $UFPI

JLB & Associates Inc. lessened its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 11.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,843 shares of the construction company’s stock after selling 782 shares during the quarter. JLB & Associates Inc.’s holdings in UFP Industries were worth $581,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Boston Partners increased its position in UFP Industries by 118.6% during the 1st quarter. Boston Partners now owns 1,469,300 shares of the construction company’s stock worth $157,270,000 after purchasing an additional 797,069 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of UFP Industries by 17.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company’s stock worth $401,550,000 after purchasing an additional 568,741 shares during the last quarter. Nuveen LLC acquired a new stake in shares of UFP Industries during the 1st quarter worth about $18,224,000. GAMMA Investing LLC grew its holdings in shares of UFP Industries by 22,107.5% during the first quarter. GAMMA Investing LLC now owns 160,560 shares of the construction company’s stock worth $17,186,000 after buying an additional 159,837 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of UFP Industries by 14.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,051,613 shares of the construction company’s stock valued at $112,112,000 after buying an additional 132,595 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Up 0.0%

Shares of NASDAQ:UFPI opened at $92.24 on Tuesday. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 16.01 and a beta of 1.47. The company has a 50 day moving average of $100.21 and a two-hundred day moving average of $101.62. UFP Industries, Inc. has a 52-week low of $91.16 and a 52-week high of $141.33. The company has a quick ratio of 3.16, a current ratio of 4.54 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.25). UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were paid a dividend of $0.35 per share. The ex-dividend date was Friday, August 29th. This represents a $1.40 annualized dividend and a yield of 1.5%. UFP Industries’s dividend payout ratio (DPR) is 24.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on UFPI shares. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 19th. Loop Capital started coverage on UFP Industries in a research note on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries has an average rating of “Hold” and a consensus target price of $134.00.

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.