Mutual of America Capital Management LLC Reduces Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Mutual of America Capital Management LLC reduced its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 159,443 shares of the construction company’s stock after selling 4,922 shares during the period. Mutual of America Capital Management LLC’s holdings in UFP Industries were worth $20,921,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of UFPI. Seizert Capital Partners LLC increased its holdings in UFP Industries by 85.5% during the 3rd quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company’s stock worth $4,543,000 after purchasing an additional 15,958 shares during the last quarter. Natixis Advisors LLC grew its position in shares of UFP Industries by 4.6% in the 3rd quarter. Natixis Advisors LLC now owns 30,639 shares of the construction company’s stock worth $4,020,000 after acquiring an additional 1,361 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of UFP Industries in the 3rd quarter worth approximately $236,000. Parametrica Management Ltd acquired a new position in shares of UFP Industries in the 3rd quarter worth approximately $509,000. Finally, MQS Management LLC acquired a new position in shares of UFP Industries in the 3rd quarter worth approximately $240,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Trading Down 2.2 %

Shares of UFPI stock 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. UFP Industries, Inc. has a 1 year low of $107.49 and a 1 year high of $139.54. The stock has a fifty day moving average of $129.45 and a two-hundred day moving average of $121.98. The firm has a market capitalization of $7.85 billion, a PE ratio of 17.77 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last announced its quarterly 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). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $2.10 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, research analysts expect that UFP Industries, Inc. will post 7.01 EPS for the current year.

UFP Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on UFPI shares. BMO Capital Markets lifted their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. 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. Finally, Benchmark boosted their price objective on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.