Bank of Montreal Can Has $660,000 Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Bank of Montreal Can lessened its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 42.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,881 shares of the construction company’s stock after selling 4,343 shares during the period. Bank of Montreal Can’s holdings in UFP Industries were worth $660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UFPI. ProShare Advisors LLC grew its holdings in shares of UFP Industries by 58.7% during the second quarter. ProShare Advisors LLC now owns 21,928 shares of the construction company’s stock worth $2,456,000 after buying an additional 8,112 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of UFP Industries by 0.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock worth $361,155,000 after acquiring an additional 28,601 shares in the last quarter. Sei Investments Co. raised its holdings in shares of UFP Industries by 1.4% in the second quarter. Sei Investments Co. now owns 80,305 shares of the construction company’s stock valued at $8,994,000 after purchasing an additional 1,145 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of UFP Industries by 233.2% in the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock worth $729,000 after purchasing an additional 4,595 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in UFP Industries by 52.5% during the second quarter. Blair William & Co. IL now owns 9,924 shares of the construction company’s stock worth $1,112,000 after purchasing an additional 3,415 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

UFPI has been the topic of several recent research reports. Stifel Nicolaus lifted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Benchmark increased their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wedbush upgraded UFP Industries from a “neutral” rating to an “outperform” rating and raised their price target for the company from $120.00 to $155.00 in a research note on Tuesday. BMO Capital Markets upped their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.60.

UFP Industries Stock Performance

UFPI opened at $135.00 on Wednesday. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 16.79 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 business has a 50 day moving average of $122.90 and a 200-day moving average of $119.05.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business earned $2.36 EPS. UFP Industries’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities research analysts expect that UFP Industries, Inc. will post 7.27 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, August 30th. UFP Industries’s dividend payout ratio is currently 16.42%.

About UFP Industries

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.