Summit Global Investments Sells 5,948 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Summit Global Investments lessened its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 23.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,480 shares of the construction company’s stock after selling 5,948 shares during the quarter. Summit Global Investments’ holdings in UFP Industries were worth $2,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. UMB Bank n.a. boosted its stake in UFP Industries by 300.0% in the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after purchasing an additional 144 shares in the last quarter. Headlands Technologies LLC purchased a new position in UFP Industries in the 2nd quarter worth approximately $29,000. Signaturefd LLC lifted its holdings in shares of UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after purchasing an additional 76 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of UFP Industries during the second quarter valued at $56,000. Finally, GAMMA Investing LLC boosted its position in shares of UFP Industries by 84.2% during the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after buying an additional 234 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $133.24 on Friday. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $8.12 billion, a PE ratio of 18.33 and a beta of 1.39. The firm’s 50 day moving average price is $127.52 and its 200-day moving average price is $121.10. UFP Industries, Inc. has a twelve month low of $100.25 and a twelve month high of $139.54.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business posted $2.10 earnings per share. The firm’s revenue was down 9.8% on a year-over-year basis. Equities research analysts expect that UFP Industries, Inc. will post 7.01 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 0.99%. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Benchmark upped their target price on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research report on Monday. Stifel Nicolaus raised their target price on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets boosted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.00.

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.