KLP Kapitalforvaltning AS Sells 1,700 Shares of UFP Industries, Inc. $UFPI

KLP Kapitalforvaltning AS decreased its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,900 shares of the construction company’s stock after selling 1,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in UFP Industries were worth $1,580,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in UFPI. Boston Partners increased its position in shares of UFP Industries by 118.6% during the first quarter. Boston Partners now owns 1,469,300 shares of the construction company’s stock worth $157,270,000 after acquiring an additional 797,069 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of UFP Industries by 17.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company’s stock worth $401,550,000 after acquiring an additional 568,741 shares in the last quarter. Nuveen LLC bought a new stake in shares of UFP Industries during the first quarter worth $18,224,000. Allspring Global Investments Holdings LLC increased its position in shares of UFP Industries by 14.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,051,613 shares of the construction company’s stock worth $112,112,000 after acquiring an additional 132,595 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of UFP Industries by 414.9% during the first quarter. Jane Street Group LLC now owns 120,718 shares of the construction company’s stock worth $12,922,000 after acquiring an additional 97,274 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research cut shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 19th. Weiss Ratings restated a “hold (c)” rating on shares of UFP Industries in a report on Wednesday, October 8th. Loop Capital assumed coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They set a “hold” rating and a $112.00 target price for the company. Finally, Stifel Nicolaus set a $95.00 target price on shares of UFP Industries and gave the stock a “hold” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $124.25.

UFP Industries Stock Performance

Shares of UFPI stock opened at $90.30 on Tuesday. The stock has a market cap of $5.29 billion, a P/E ratio of 15.68 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The company has a fifty day moving average price of $98.14 and a two-hundred day moving average price of $100.41. UFP Industries, Inc. has a one year low of $88.99 and a one year high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced 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). 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%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 EPS. As a group, equities analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were paid a $0.35 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. UFP Industries’s dividend payout ratio (DPR) is currently 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.