Royce & Associates LP Sells 31,639 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Royce & Associates LP lowered its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 4.9% in the third quarter, Holdings Channel reports. The firm owned 620,312 shares of the construction company’s stock after selling 31,639 shares during the period. UFP Industries comprises about 0.7% of Royce & Associates LP’s holdings, making the stock its 13th biggest position. Royce & Associates LP’s holdings in UFP Industries were worth $81,391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in UFPI. Assenagon Asset Management S.A. raised its stake in UFP Industries by 216.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 202,124 shares of the construction company’s stock valued at $26,521,000 after purchasing an additional 138,215 shares during the last quarter. AQR Capital Management LLC raised its position in shares of UFP Industries by 22.7% during the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after buying an additional 112,518 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in shares of UFP Industries by 103.3% in the second quarter. Picton Mahoney Asset Management now owns 115,549 shares of the construction company’s stock valued at $12,941,000 after buying an additional 58,724 shares during the period. F M Investments LLC bought a new position in UFP Industries during the second quarter valued at about $6,028,000. Finally, Cubist Systematic Strategies LLC raised its holdings in UFP Industries by 289.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 56,966 shares of the construction company’s stock valued at $6,380,000 after acquiring an additional 42,341 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on UFPI. BMO Capital Markets upped their target price on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their target price on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Benchmark increased their price target on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wedbush reaffirmed an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Trading Up 0.3 %

Shares of UFP Industries stock opened at $132.07 on Friday. The stock has a market capitalization of $8.02 billion, a P/E ratio of 18.17 and a beta of 1.39. UFP Industries, Inc. has a 12-month low of $107.49 and a 12-month high of $139.54. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $129.12 and a 200 day simple moving average of $121.82.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $2.10 EPS. The business’s revenue was down 9.8% on a year-over-year basis. Research analysts expect that UFP Industries, Inc. will post 7.01 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.00%. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

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.