UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 29.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,587 shares of the construction company’s stock after selling 5,181 shares during the quarter. Los Angeles Capital Management LLC’s holdings in UFP Industries were worth $1,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meritage Portfolio Management lifted its stake in UFP Industries by 9.2% during the third quarter. Meritage Portfolio Management now owns 3,946 shares of the construction company’s stock valued at $518,000 after buying an additional 334 shares in the last quarter. Atria Investments Inc lifted its position in shares of UFP Industries by 19.3% in the 3rd quarter. Atria Investments Inc now owns 11,581 shares of the construction company’s stock valued at $1,520,000 after acquiring an additional 1,871 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in UFP Industries in the 3rd quarter worth approximately $210,000. CWA Asset Management Group LLC purchased a new position in UFP Industries during the 3rd quarter worth approximately $408,000. Finally, QRG Capital Management Inc. raised its stake in UFP Industries by 3.6% during the 3rd quarter. QRG Capital Management Inc. now owns 37,865 shares of the construction company’s stock valued at $4,968,000 after purchasing an additional 1,331 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

Shares of UFPI stock opened at $131.62 on Thursday. The firm has a market cap of $7.99 billion, a P/E ratio of 18.10 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. UFP Industries, Inc. has a fifty-two week low of $106.30 and a fifty-two week high of $139.54. The stock’s 50-day moving average is $128.76 and its two-hundred day moving average is $121.75.

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

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 1.00%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio is presently 18.16%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus raised their target price on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets lifted their target price 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 increased their price target on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wedbush reaffirmed 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 issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.