GW&K Investment Management LLC Trims Holdings in UFP Industries, Inc. $UFPI

GW&K Investment Management LLC decreased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,013 shares of the construction company’s stock after selling 41,472 shares during the period. GW&K Investment Management LLC owned 0.54% of UFP Industries worth $29,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of UFP Industries by 3.0% during the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock valued at $6,597,000 after buying an additional 1,798 shares during the period. Integrated Wealth Concepts LLC increased its position in UFP Industries by 8.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after purchasing an additional 221 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in UFP Industries by 10.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock worth $13,831,000 after purchasing an additional 12,043 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of UFP Industries in the 2nd quarter worth about $91,000. Finally, Bank of New York Mellon Corp lifted its position in shares of UFP Industries by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 561,467 shares of the construction company’s stock worth $55,787,000 after purchasing an additional 10,203 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Insider Transactions at UFP Industries

In other news, Chairman Matthew J. Missad sold 11,000 shares of the company’s 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 approximately $28,649,774.58. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on UFPI. Stifel Nicolaus set a $98.00 price objective on UFP Industries in a research report on Tuesday, December 2nd. DA Davidson restated a “buy” rating and issued a $112.00 target price on shares of UFP Industries in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. Finally, Zacks Research upgraded 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $107.33.

UFP Industries Stock Down 1.9%

Shares of NASDAQ:UFPI opened at $96.66 on Friday. The company has a current ratio of 4.59, a quick ratio of 3.13 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $104.36 and a two-hundred day simple moving average of $97.73. UFP Industries, Inc. has a 12-month low of $87.11 and a 12-month high of $118.00. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 19.37 and a beta of 1.48.

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

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 1.5%. This is an increase from UFP Industries’s previous quarterly dividend of $0.35. UFP Industries’s dividend payout ratio (DPR) is 28.86%.

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.