Baird Financial Group Inc. Lowers Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Baird Financial Group Inc. cut its holdings in UFP Industries, Inc. (NASDAQ:UFPIGet Rating) by 13.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,491 shares of the construction company’s stock after selling 880 shares during the quarter. Baird Financial Group Inc.’s holdings in UFP Industries were worth $374,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Park Avenue Securities LLC raised its position in UFP Industries by 5.3% during the first quarter. Park Avenue Securities LLC now owns 4,076 shares of the construction company’s stock worth $315,000 after acquiring an additional 204 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of UFP Industries by 4.8% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 32,995 shares of the construction company’s stock worth $2,546,000 after purchasing an additional 1,526 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in UFP Industries by 5.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 125,283 shares of the construction company’s stock valued at $9,667,000 after buying an additional 6,075 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in UFP Industries by 13.8% in the 1st quarter. Benjamin Edwards Inc. now owns 3,001 shares of the construction company’s stock worth $232,000 after buying an additional 363 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in UFP Industries by 140.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 7,760 shares of the construction company’s stock worth $598,000 after buying an additional 4,538 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

UFP Industries Stock Performance

Shares of UFP Industries stock opened at $78.88 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.78 and a current ratio of 3.03. The business’s 50 day moving average price is $72.95 and its 200 day moving average price is $76.28. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 7.11 and a beta of 1.45. UFP Industries, Inc. has a one year low of $64.13 and a one year high of $94.80.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. UFP Industries’s payout ratio is 9.01%.

Wall Street Analysts Forecast Growth

UFPI has been the topic of a number of research analyst reports. Benchmark lifted their price target on UFP Industries to $110.00 in a research note on Monday, July 25th. DA Davidson dropped their target price on shares of UFP Industries to $96.00 in a report on Thursday, October 27th. Finally, StockNews.com assumed coverage on shares of UFP Industries in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock.

UFP Industries Profile

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UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. It operates through Retail, Industrial, and Construction segments. The Retail segment offers preserved and unpreserved dimensional lumber; and outdoor living products, including wood and wood composite decking and related accessories, decorative lawn, garden, craft, and hobby products.

Further Reading

Institutional Ownership by Quarter for UFP Industries (NASDAQ:UFPI)

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