Bank of New York Mellon Corp Has $73.06 Million Position in UFP Industries, Inc. (NASDAQ:UFPI)

Bank of New York Mellon Corp cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 652,338 shares of the construction company’s stock after selling 1,863 shares during the quarter. Bank of New York Mellon Corp owned about 1.06% of UFP Industries worth $73,062,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in UFPI. GAMMA Investing LLC acquired a new position in shares of UFP Industries during the 4th quarter worth approximately $30,000. Van ECK Associates Corp grew its holdings in UFP Industries by 26.4% in the 4th quarter. Van ECK Associates Corp now owns 17,906 shares of the construction company’s stock valued at $2,248,000 after buying an additional 3,739 shares in the last quarter. Certuity LLC acquired a new position in UFP Industries in the 4th quarter valued at $281,000. SRS Capital Advisors Inc. grew its holdings in UFP Industries by 218.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock valued at $36,000 after buying an additional 197 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in UFP Industries in the 4th quarter valued at $60,000. 81.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Patrick M. Benton sold 11,725 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the sale, the insider now directly owns 97,729 shares in the company, valued at approximately $11,265,221.83. The sale was disclosed in a filing with the SEC, which is available through this link. 2.58% of the stock is owned by corporate insiders.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $120.64 on Friday. The stock has a fifty day moving average price of $118.51 and a 200-day moving average price of $117.17. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 15.00 and a beta of 1.40. 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, Inc. has a fifty-two week low of $90.62 and a fifty-two week high of $136.93.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the company earned $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 anticipate that UFP Industries, Inc. will post 7.24 EPS for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 1.09%. UFP Industries’s dividend payout ratio is currently 16.42%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus upped their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and issued a $120.00 price objective (up from $102.00) on shares of UFP Industries in a report on Tuesday, July 30th. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. BMO Capital Markets upped their target price on 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, Benchmark upped their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.60.

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.