UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,961 shares of the construction company’s stock after selling 2,388 shares during the period. Amalgamated Bank’s holdings in UFP Industries were worth $3,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. TFG Advisers LLC raised its holdings in UFP Industries by 5.2% in the first quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock valued at $230,000 after acquiring an additional 92 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of UFP Industries by 0.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock valued at $1,630,000 after purchasing an additional 105 shares in the last quarter. Cadence Bank grew its stake in shares of UFP Industries by 0.6% during the first quarter. Cadence Bank now owns 19,464 shares of the construction company’s stock worth $2,394,000 after purchasing an additional 110 shares in the last quarter. Assetmark Inc. increased its holdings in UFP Industries by 17.3% in the fourth quarter. Assetmark Inc. now owns 873 shares of the construction company’s stock valued at $110,000 after buying an additional 129 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in UFP Industries by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company’s stock valued at $866,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UFPI shares. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Benchmark raised their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wedbush restated a “neutral” rating and issued a $120.00 target price (up previously from $102.00) on shares of UFP Industries in a report on Tuesday, July 30th. BMO Capital Markets increased 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 report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.60.

UFP Industries Stock Performance

Shares of UFPI opened at $131.10 on Tuesday. The company’s 50 day simple moving average is $121.62 and its 200-day simple moving average is $117.92. The firm has a market cap of $8.10 billion, a PE ratio of 16.31 and a beta of 1.39. UFP Industries, Inc. has a 12-month low of $90.62 and a 12-month high of $136.93. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm posted $2.36 EPS. UFP Industries’s revenue for the quarter was down 6.9% on a year-over-year basis. As a group, equities analysts predict that UFP Industries, Inc. will post 7.27 EPS for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, August 30th. UFP Industries’s dividend payout ratio is presently 16.42%.

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.