MAI Capital Management Sells 808 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

MAI Capital Management lowered its position in UFP Industries, Inc. (NASDAQ:UFPI) by 13.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,179 shares of the construction company’s stock after selling 808 shares during the period. MAI Capital Management’s holdings in UFP Industries were worth $680,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. UMB Bank n.a. boosted its stake in UFP Industries by 300.0% in the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after purchasing an additional 144 shares during the period. Headlands Technologies LLC acquired a new position in UFP Industries in the 2nd quarter worth $29,000. Signaturefd LLC boosted its stake in UFP Industries by 31.8% in the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after purchasing an additional 76 shares during the period. Triad Wealth Partners LLC acquired a new position in UFP Industries in the 2nd quarter worth $56,000. Finally, GAMMA Investing LLC boosted its stake in UFP Industries by 84.2% in the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after purchasing an additional 234 shares during the period. Institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Up 2.0 %

UFP Industries stock opened at $133.07 on Friday. The firm has a 50-day moving average of $130.63 and a 200-day moving average of $122.32. UFP Industries, Inc. has a one year low of $107.49 and a one year high of $139.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 18.30 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (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 the consensus estimate of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.10 earnings per share. On average, equities analysts expect that UFP Industries, Inc. will post 6.89 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.99%. UFP Industries’s payout ratio is 18.16%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UFPI. BMO Capital Markets upped their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a research note on Monday, November 4th. Benchmark increased their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus increased their price objective 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, UFP Industries currently has a consensus rating of “Moderate Buy” and an average price target 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.