Victory Capital Management Inc. Cuts Stake in UFP Industries, Inc. $UFPI

Victory Capital Management Inc. reduced its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 53.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 250,224 shares of the construction company’s stock after selling 286,795 shares during the quarter. Victory Capital Management Inc. owned 0.43% of UFP Industries worth $23,393,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of UFPI. Geneos Wealth Management Inc. grew its holdings in shares of UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after buying an additional 114 shares during the last quarter. Winnow Wealth LLC purchased a new position in UFP Industries in the 3rd quarter worth approximately $51,000. EverSource Wealth Advisors LLC lifted its position in UFP Industries by 90.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock valued at $54,000 after acquiring an additional 259 shares in the last quarter. Bryn Mawr Trust Advisors LLC purchased a new stake in UFP Industries during the 2nd quarter valued at $202,000. Finally, Parkside Financial Bank & Trust boosted its stake in UFP Industries by 686.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,045 shares of the construction company’s stock valued at $203,000 after purchasing an additional 1,785 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

UFPI stock opened at $93.36 on Tuesday. The company has a market cap of $5.28 billion, a P/E ratio of 18.71 and a beta of 1.48. UFP Industries, Inc. has a 1 year low of $87.11 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.59 and a quick ratio of 3.13. The stock’s fifty day moving average price is $104.40 and its 200-day moving average price is $97.59.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, February 23rd. The construction company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.33). UFP Industries had a return on equity of 9.27% and a net margin of 4.66%.The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm earned $1.12 EPS. The business’s revenue was down 9.0% on a year-over-year basis. On average, equities analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from UFP Industries’s previous quarterly dividend of $0.35. UFP Industries’s payout ratio is currently 28.86%.

Insider Buying and Selling at UFP Industries

In other news, Chairman Matthew J. Missad sold 11,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the transaction, the chairman owned 310,533 shares in the company, valued at $28,649,774.58. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. DA Davidson restated a “buy” rating and issued a $112.00 price target on shares of UFP Industries in a research note on Tuesday, February 24th. Stifel Nicolaus set a $98.00 price objective on UFP Industries in a report on Tuesday, December 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. Finally, Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $107.33.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.