Commonwealth Equity Services LLC Has $676,000 Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Commonwealth Equity Services LLC cut its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 8.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,036 shares of the construction company’s stock after selling 583 shares during the quarter. Commonwealth Equity Services LLC’s holdings in UFP Industries were worth $676,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in UFPI. Opal Wealth Advisors LLC bought a new stake in UFP Industries in the first quarter valued at approximately $33,000. Rise Advisors LLC bought a new stake in shares of UFP Industries in the 1st quarter valued at $33,000. Triad Wealth Partners LLC acquired a new stake in shares of UFP Industries during the second quarter worth $56,000. GAMMA Investing LLC raised its stake in UFP Industries by 84.2% during the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after buying an additional 234 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in UFP Industries in the first quarter valued at $89,000. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

UFPI has been the subject of a number of recent analyst reports. Benchmark increased their price target on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and set a $120.00 target price (up previously from $102.00) on shares of UFP Industries in a research note on Tuesday, July 30th. BMO Capital Markets increased their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Finally, Stifel Nicolaus increased their target price on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.60.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $132.84 on Friday. The stock’s 50 day moving average is $120.77 and its 200-day moving average is $117.54. UFP Industries, Inc. has a twelve month low of $90.62 and a twelve month high of $136.93. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 16.29 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period last year, the firm earned $2.36 earnings per share. Sell-side analysts forecast that UFP Industries, Inc. will post 7.27 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.99%. UFP Industries’s dividend payout ratio is presently 16.42%.

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.