Bayforest Capital Ltd Sells 2,203 Shares of UFP Industries, Inc. $UFPI

Bayforest Capital Ltd trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 84.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 417 shares of the construction company’s stock after selling 2,203 shares during the period. Bayforest Capital Ltd’s holdings in UFP Industries were worth $41,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UFPI. GAMMA Investing LLC raised its stake in shares of UFP Industries by 107.5% during the 1st quarter. GAMMA Investing LLC now owns 1,500 shares of the construction company’s stock worth $161,000 after purchasing an additional 777 shares during the period. SG Americas Securities LLC bought a new stake in UFP Industries in the 1st quarter valued at about $538,000. State of Alaska Department of Revenue raised its stake in UFP Industries by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 7,115 shares of the construction company’s stock valued at $761,000 after acquiring an additional 190 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in UFP Industries in the 1st quarter valued at about $1,534,000. Finally, Narwhal Capital Management bought a new stake in UFP Industries in the 1st quarter valued at about $4,221,000. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Stock Down 0.0%

Shares of NASDAQ UFPI opened at $90.66 on Friday. UFP Industries, Inc. has a 12 month low of $88.99 and a 12 month high of $141.33. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 15.74 and a beta of 1.45. The business has a 50-day moving average of $97.51 and a 200-day moving average of $100.01.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) 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 analysts’ expectations of $1.85 billion. UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. Sell-side analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on UFPI shares. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 19th. 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 objective on the stock. Stifel Nicolaus set a $95.00 price target on UFP Industries and gave the company a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Industries in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, UFP Industries has a consensus rating of “Hold” and a consensus target price of $124.25.

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.