Fisher Asset Management LLC Lowers Holdings in UFP Industries, Inc. $UFPI

Fisher Asset Management LLC reduced its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 25.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 256,710 shares of the construction company’s stock after selling 87,141 shares during the period. Fisher Asset Management LLC’s holdings in UFP Industries were worth $25,507,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allianz Asset Management GmbH grew its stake in UFP Industries by 10.2% during the second quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock valued at $24,767,000 after acquiring an additional 23,152 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of UFP Industries by 4.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 166,340 shares of the construction company’s stock valued at $16,528,000 after purchasing an additional 7,063 shares during the last quarter. Nordea Investment Management AB grew its position in shares of UFP Industries by 0.7% during the second quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company’s stock valued at $11,094,000 after purchasing an additional 759 shares in the last quarter. World Investment Advisors purchased a new position in shares of UFP Industries during the second quarter valued at about $394,000. Finally, Boston Partners increased its holdings in shares of UFP Industries by 25.1% in the second quarter. Boston Partners now owns 1,838,108 shares of the construction company’s stock worth $182,636,000 after purchasing an additional 368,808 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Michael G. Wooldridge sold 1,192 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total value of $111,368.56. Following the sale, the director directly owned 14,697 shares of the company’s stock, valued at $1,373,140.71. This represents a 7.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.56% of the company’s stock.

UFP Industries Stock Performance

NASDAQ UFPI opened at $92.36 on Wednesday. The business’s 50 day moving average price is $91.53 and its 200-day moving average price is $97.31. UFP Industries, Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $135.50. The company has a market cap of $5.38 billion, a P/E ratio of 17.07 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54.

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

UFP Industries Announces Dividend

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

UFP Industries Company 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.