Wealth Enhancement Advisory Services LLC Cuts Position in UFP Industries, Inc. $UFPI

Wealth Enhancement Advisory Services LLC trimmed its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,783 shares of the construction company’s stock after selling 203 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in UFP Industries were worth $1,987,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in UFP Industries in the first quarter valued at approximately $36,000. Caitong International Asset Management Co. Ltd boosted its holdings in UFP Industries by 39.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock valued at $45,000 after purchasing an additional 119 shares in the last quarter. UMB Bank n.a. boosted its holdings in UFP Industries by 182.1% in the first quarter. UMB Bank n.a. now owns 567 shares of the construction company’s stock valued at $61,000 after purchasing an additional 366 shares in the last quarter. Signaturefd LLC boosted its holdings in UFP Industries by 222.5% in the first quarter. Signaturefd LLC now owns 816 shares of the construction company’s stock valued at $87,000 after purchasing an additional 563 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in UFP Industries by 20.4% in the first quarter. Covestor Ltd now owns 886 shares of the construction company’s stock valued at $94,000 after purchasing an additional 150 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Price Performance

UFPI stock opened at $92.23 on Monday. 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, Inc. has a twelve month low of $91.16 and a twelve month high of $141.33. The business has a 50 day simple moving average of $100.38 and a 200-day simple moving average of $101.72. 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 (NASDAQ:UFPI) last posted its quarterly earnings data 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). The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. UFP Industries’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 earnings per share. As a group, equities analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

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