Dimensional Fund Advisors LP Trims Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Dimensional Fund Advisors LP lowered its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 5.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,152,663 shares of the construction company’s stock after selling 135,998 shares during the period. Dimensional Fund Advisors LP’s holdings in UFP Industries were worth $241,090,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in UFP Industries in the 4th quarter worth $86,885,000. UBS Group AG boosted its stake in shares of UFP Industries by 16.5% in the fourth quarter. UBS Group AG now owns 82,195 shares of the construction company’s stock worth $10,320,000 after acquiring an additional 11,664 shares during the period. Wells Fargo & Company MN grew its position in shares of UFP Industries by 871.3% during the fourth quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock worth $51,741,000 after purchasing an additional 369,687 shares in the last quarter. Corient Private Wealth LLC raised its stake in UFP Industries by 26.5% during the 4th quarter. Corient Private Wealth LLC now owns 16,832 shares of the construction company’s stock valued at $2,113,000 after purchasing an additional 3,525 shares during the period. Finally, Assetmark Inc. lifted its holdings in UFP Industries by 17.3% in the 4th quarter. Assetmark Inc. now owns 873 shares of the construction company’s stock worth $110,000 after purchasing an additional 129 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UFPI. BMO Capital Markets lifted their price objective 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. Stifel Nicolaus increased their price objective on shares of 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 target price (up from $102.00) on shares of UFP Industries in a report on Tuesday, July 30th. Benchmark increased their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.60.

UFP Industries Stock Up 2.0 %

Shares of NASDAQ UFPI opened at $128.53 on Thursday. 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, Inc. has a 12-month low of $90.62 and a 12-month high of $136.93. The firm’s 50-day moving average price is $120.40 and its 200-day moving average price is $117.47. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 15.99 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data 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. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the company earned $2.36 EPS. On average, equities research analysts anticipate that UFP Industries, Inc. will post 7.27 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 1.03%. The ex-dividend date of this dividend was Friday, August 30th. UFP Industries’s dividend payout ratio (DPR) is 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.