Watchman Group Inc. Decreases Position in UFP Industries, Inc. (NASDAQ:UFPI)

Watchman Group Inc. decreased its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 1.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 38,184 shares of the construction company’s stock after selling 754 shares during the quarter. UFP Industries comprises approximately 1.1% of Watchman Group Inc.’s portfolio, making the stock its 25th largest position. Watchman Group Inc.’s holdings in UFP Industries were worth $4,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of UFP Industries by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,917,463 shares of the construction company’s stock worth $205,237,000 after buying an additional 25,903 shares during the period. Vestmark Advisory Solutions Inc. lifted its stake in shares of UFP Industries by 123.4% in the first quarter. Vestmark Advisory Solutions Inc. now owns 53,358 shares of the construction company’s stock worth $5,711,000 after acquiring an additional 29,474 shares in the last quarter. Boston Partners lifted its stake in shares of UFP Industries by 118.6% in 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. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 worth $45,000 after acquiring an additional 119 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of UFP Industries by 45.0% in the first quarter. Russell Investments Group Ltd. now owns 99,994 shares of the construction company’s stock worth $10,703,000 after acquiring an additional 31,014 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Down 3.0%

NASDAQ:UFPI opened at $103.08 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. UFP Industries, Inc. has a one year low of $93.00 and a one year high of $141.33. The business’s 50-day simple moving average is $101.05 and its 200 day simple moving average is $104.36. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 17.90 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results 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 business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm posted $2.05 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. UFP Industries’s payout ratio is currently 24.31%.

Wall Street Analysts Forecast Growth

Separately, Loop Capital assumed coverage on UFP Industries in a research note on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price target on the stock.

UFP Industries Company 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.