PNC Financial Services Group Inc. Lowers Position in UFP Industries, Inc. (NASDAQ:UFPI)

PNC Financial Services Group Inc. lessened its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 31.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,268 shares of the construction company’s stock after selling 1,959 shares during the period. PNC Financial Services Group Inc.’s holdings in UFP Industries were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Putney Financial Group LLC purchased a new position in shares of UFP Industries during the 4th quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in UFP Industries during the 1st quarter worth approximately $36,000. Kapitalo Investimentos Ltda purchased a new position in UFP Industries during the fourth quarter valued at approximately $61,000. UMB Bank n.a. boosted its position in shares of UFP Industries by 182.1% in the first quarter. UMB Bank n.a. now owns 567 shares of the construction company’s stock worth $61,000 after purchasing an additional 366 shares during the period. Finally, Signaturefd LLC increased its stake in shares of UFP Industries by 222.5% in the first quarter. Signaturefd LLC now owns 816 shares of the construction company’s stock worth $87,000 after purchasing an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $106.28 on Thursday. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12-month low of $93.00 and a 12-month high of $141.33. The stock has a 50-day moving average price of $100.94 and a 200 day moving average price of $104.46. The stock has a market capitalization of $6.22 billion, a P/E ratio of 18.45 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.25). UFP Industries had a return on equity of 10.95% and a net margin of 5.31%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. UFP Industries’s dividend payout ratio (DPR) is presently 24.31%.

Analyst Ratings Changes

Separately, Loop Capital began coverage on shares of UFP Industries in a research report on Wednesday, July 23rd. They set a “hold” rating and a $112.00 price objective on the stock.

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.