Segall Bryant & Hamill LLC Decreases Stock Position in UFP Industries, Inc. $UFPI

Segall Bryant & Hamill LLC cut its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 22.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,194 shares of the construction company’s stock after selling 11,368 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in UFP Industries were worth $3,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of UFP Industries during the fourth quarter valued at $75,183,000. Wasatch Advisors LP increased its holdings in UFP Industries by 32.9% in the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock worth $187,732,000 after buying an additional 504,609 shares in the last quarter. River Road Asset Management LLC increased its holdings in UFP Industries by 64.1% in the 4th quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock worth $80,118,000 after buying an additional 343,830 shares in the last quarter. Millennium Management LLC raised its position in UFP Industries by 209.9% in the 3rd quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after buying an additional 288,093 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in UFP Industries by 2,178.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock worth $19,423,000 after buying an additional 203,957 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Price Performance

NASDAQ UFPI opened at $91.68 on Tuesday. The company has a 50-day moving average price of $85.58 and a 200-day moving average price of $92.83. UFP Industries, Inc. has a 52 week low of $77.89 and a 52 week high of $118.00. The company has a quick ratio of 2.64, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.18 billion, a P/E ratio of 21.03 and a beta of 1.23.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.79 billion. Equities research analysts anticipate that UFP Industries, Inc. will post 4.56 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 1st. UFP Industries’s dividend payout ratio is 33.03%.

Analyst Upgrades and Downgrades

UFPI has been the topic of several research analyst reports. DA Davidson lowered their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Benchmark reduced their price target on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a report on Tuesday, May 5th. Stifel Nicolaus lowered their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. Finally, Weiss Ratings cut shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, UFP Industries currently has an average rating of “Hold” and a consensus target price of $103.75.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.