American Century Companies Inc. Cuts Stake in UFP Industries, Inc. $UFPI

American Century Companies Inc. cut its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 14.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,041 shares of the construction company’s stock after selling 27,867 shares during the quarter. American Century Companies Inc.’s holdings in UFP Industries were worth $16,001,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of UFP Industries by 39.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock valued at $45,000 after purchasing an additional 119 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in UFP Industries during the second quarter valued at approximately $59,000. Covestor Ltd raised its stake in UFP Industries by 20.4% in the first quarter. Covestor Ltd now owns 886 shares of the construction company’s stock worth $94,000 after buying an additional 150 shares in the last quarter. AlphaQuest LLC purchased a new stake in UFP Industries during the second quarter worth $91,000. Finally, State of Wyoming boosted its position in UFP Industries by 8.4% during the 1st quarter. State of Wyoming now owns 1,294 shares of the construction company’s stock valued at $139,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on UFPI. Zacks Research lowered UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $112.00 in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research report on Thursday, October 30th. Finally, Stifel Nicolaus set a $98.00 price objective on shares of UFP Industries in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $114.25.

Insiders Place Their Bets

In other UFP Industries news, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the transaction, the director owned 14,697 shares in the company, valued at approximately $1,373,140.71. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.56% of the company’s stock.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $92.36 on Wednesday. UFP Industries, Inc. has a twelve month low of $87.11 and a twelve month high of $135.50. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The company has a market cap of $5.38 billion, a PE ratio of 17.07 and a beta of 1.43. The company’s 50 day moving average is $91.53 and its 200 day moving average is $97.31.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.08). The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. On average, sell-side analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, December 1st. UFP Industries’s dividend payout ratio (DPR) is currently 25.88%.

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.