Millennium Management LLC Sells 122,236 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Millennium Management LLC lessened its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 72.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,544 shares of the construction company’s stock after selling 122,236 shares during the period. Millennium Management LLC owned about 0.08% of UFP Industries worth $5,213,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in UFP Industries during the 2nd quarter worth about $29,000. Opal Wealth Advisors LLC bought a new position in UFP Industries during the 1st quarter worth about $33,000. Rise Advisors LLC bought a new position in UFP Industries during the 1st quarter worth about $33,000. Triad Wealth Partners LLC bought a new position in UFP Industries during the 2nd quarter worth about $56,000. Finally, GAMMA Investing LLC increased its holdings in UFP Industries by 84.2% during the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

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

UFP Industries Trading Up 1.7 %

Shares of NASDAQ:UFPI opened at $136.89 on Friday. UFP Industries, Inc. has a 52-week low of $90.62 and a 52-week high of $137.32. The company has a market capitalization of $8.34 billion, a P/E ratio of 17.71 and a beta of 1.39. The company has a 50-day simple moving average of $123.46 and a 200 day simple moving average of $119.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $2.36 EPS. UFP Industries’s revenue was down 6.9% on a year-over-year basis. Sell-side analysts forecast that UFP Industries, Inc. will post 7.29 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. Shareholders of record on Monday, September 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.32 annualized dividend and a yield of 0.96%. UFP Industries’s dividend payout ratio is currently 17.08%.

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.