Fifth Third Bancorp Sells 389 Shares of UFP Industries, Inc. $UFPI

Fifth Third Bancorp cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,396 shares of the construction company’s stock after selling 389 shares during the period. Fifth Third Bancorp’s holdings in UFP Industries were worth $735,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. State of Wyoming increased its stake in shares of UFP Industries by 8.4% during the first quarter. State of Wyoming now owns 1,294 shares of the construction company’s stock valued at $139,000 after buying an additional 100 shares during the period. Great Lakes Advisors LLC increased its stake in shares of UFP Industries by 0.5% during the first quarter. Great Lakes Advisors LLC now owns 21,105 shares of the construction company’s stock valued at $2,259,000 after buying an additional 105 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of UFP Industries by 39.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock valued at $45,000 after buying an additional 119 shares during the period. Park Avenue Securities LLC increased its stake in shares of UFP Industries by 6.5% during the first quarter. Park Avenue Securities LLC now owns 2,221 shares of the construction company’s stock valued at $238,000 after buying an additional 136 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its stake in UFP Industries by 2.1% in the first quarter. Nations Financial Group Inc. IA ADV now owns 6,950 shares of the construction company’s stock worth $744,000 after purchasing an additional 141 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Up 0.5%

NASDAQ UFPI opened at $92.23 on Monday. The stock’s 50-day moving average price is $100.38 and its 200-day moving average price is $101.72. 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 52 week low of $91.16 and a 52 week high of $141.33. The company has a market capitalization of $5.40 billion, a P/E ratio of 16.01 and a beta of 1.47.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 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 during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business earned $2.05 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given a dividend of $0.35 per share. The ex-dividend date was Friday, August 29th. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. UFP Industries’s dividend payout ratio (DPR) is currently 24.31%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 19th. Loop Capital started 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. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $134.00.

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.