UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its position in UFP Industries, Inc. (NASDAQ:UFPI) by 1.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,790,416 shares of the construction company’s stock after selling 92,482 shares during the quarter. Vanguard Group Inc. owned about 11.16% of UFP Industries worth $726,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC raised its stake in UFP Industries by 2,505.4% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,918 shares of the construction company’s stock valued at $312,000 after purchasing an additional 2,806 shares during the last quarter. Blair William & Co. IL raised its stake in UFP Industries by 16.9% in the 1st quarter. Blair William & Co. IL now owns 11,662 shares of the construction company’s stock valued at $1,248,000 after purchasing an additional 1,685 shares during the last quarter. Argent Trust Co raised its stake in UFP Industries by 3.7% in the 1st quarter. Argent Trust Co now owns 5,547 shares of the construction company’s stock valued at $594,000 after purchasing an additional 198 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in UFP Industries in the 1st quarter valued at about $1,051,000. Finally, Natixis Advisors LLC raised its stake in UFP Industries by 28.3% in the 1st quarter. Natixis Advisors LLC now owns 20,650 shares of the construction company’s stock valued at $2,210,000 after purchasing an additional 4,561 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Trading Up 4.1%

Shares of UFPI stock opened at $102.54 on Wednesday. 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, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $141.33. The stock has a market capitalization of $6.01 billion, a P/E ratio of 17.80 and a beta of 1.43. The stock has a 50-day simple moving average of $100.75 and a 200 day simple moving average of $104.45.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share 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 firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the business earned $2.05 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, sell-side analysts expect 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 will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.35 per share. The ex-dividend date is Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. UFP Industries’s payout ratio is currently 24.31%.

Wall Street Analyst Weigh In

Separately, Loop Capital assumed coverage on shares of UFP Industries in a research note on Wednesday, July 23rd. They set a “hold” rating and a $112.00 price objective for the company.

About UFP Industries

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.