American Century Companies Inc. Lowers Position in UFP Industries, Inc. $UFPI

American Century Companies Inc. cut its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 15.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,908 shares of the construction company’s stock after selling 33,410 shares during the quarter. American Century Companies Inc. owned 0.31% of UFP Industries worth $20,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of UFPI. Putney Financial Group LLC purchased a new stake in shares of UFP Industries in the fourth quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of UFP Industries in the 1st quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of UFP Industries by 39.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock worth $45,000 after buying an additional 119 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of UFP Industries in the 4th quarter worth approximately $61,000. Finally, UMB Bank n.a. boosted its stake in shares of UFP Industries by 182.1% in the 1st quarter. UMB Bank n.a. now owns 567 shares of the construction company’s stock worth $61,000 after buying an additional 366 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Loop Capital assumed coverage on UFP Industries in a research note on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 target price on the stock. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $134.00.

UFP Industries Trading Up 7.5%

Shares of UFPI stock opened at $107.08 on Friday. The company has a 50 day moving average of $101.56 and a 200-day moving average of $103.67. The company has a quick ratio of 3.16, a current ratio of 4.54 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 firm has a market cap of $6.27 billion, a P/E ratio of 18.59 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) 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 company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 29th. UFP Industries’s dividend payout ratio is presently 24.31%.

UFP Industries 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.