Empowered Funds LLC Sells 1,471 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Empowered Funds LLC cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 60,890 shares of the construction company’s stock after selling 1,471 shares during the period. Empowered Funds LLC’s holdings in UFP Industries were worth $7,989,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its position in shares of UFP Industries by 299.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after purchasing an additional 4,597 shares during the last quarter. Acadian Asset Management LLC bought a new position in UFP Industries during the first quarter worth about $1,214,000. Hsbc Holdings PLC raised its stake in UFP Industries by 233.2% in the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock valued at $729,000 after buying an additional 4,595 shares during the period. Sei Investments Co. lifted its position in shares of UFP Industries by 16.7% in the first quarter. Sei Investments Co. now owns 79,160 shares of the construction company’s stock valued at $9,738,000 after buying an additional 11,331 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of UFP Industries by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after acquiring an additional 5,784 shares during the period. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Price Performance

NASDAQ:UFPI opened at $129.21 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 17.77 and a beta of 1.39. UFP Industries, Inc. has a 52 week low of $107.49 and a 52 week high of $139.54. The firm’s 50-day simple moving average is $129.45 and its 200 day simple moving average is $121.91.

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

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s dividend payout ratio is presently 18.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on UFPI shares. BMO Capital Markets increased their price target 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. Benchmark lifted their target price on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Stifel Nicolaus increased their price target on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.00.

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.