Alliancebernstein L.P. Sells 919 Shares of UFP Industries, Inc. $UFPI

Alliancebernstein L.P. lowered its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,480 shares of the construction company’s stock after selling 919 shares during the period. Alliancebernstein L.P. owned about 0.25% of UFP Industries worth $16,107,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of UFP Industries by 17.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company’s stock worth $401,550,000 after purchasing an additional 568,741 shares during the period. Dimensional Fund Advisors LP raised its position in UFP Industries by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,917,463 shares of the construction company’s stock worth $205,237,000 after acquiring an additional 25,903 shares during the period. Boston Partners boosted its stake in UFP Industries by 118.6% in the first quarter. Boston Partners now owns 1,469,300 shares of the construction company’s stock valued at $157,270,000 after acquiring an additional 797,069 shares during the last quarter. Northern Trust Corp grew its position in shares of UFP Industries by 1.6% during the 1st quarter. Northern Trust Corp now owns 1,129,244 shares of the construction company’s stock valued at $120,874,000 after acquiring an additional 18,097 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of UFP Industries by 14.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,051,613 shares of the construction company’s stock valued at $112,112,000 after acquiring an additional 132,595 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UFPI has been the topic of a number of research reports. Loop Capital started coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price target on the stock. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, UFP Industries has an average rating of “Hold” and an average price target of $134.00.

UFP Industries Trading Up 2.7%

Shares of UFPI stock opened at $102.40 on Friday. The company’s fifty day simple moving average is $102.24 and its two-hundred day simple moving average is $102.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. UFP Industries, Inc. has a 1 year low of $93.00 and a 1 year high of $141.33. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 17.78 and a beta of 1.47.

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

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. UFP Industries’s payout ratio is presently 24.31%.

About UFP Industries

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.