Bank of Montreal Can Sells 4,343 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Bank of Montreal Can cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 42.5% in the 2nd quarter, Holdings Channel reports. The firm 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.

A number of other large investors have also recently modified their holdings of the business. Foundry Partners LLC grew its holdings in shares of UFP Industries by 13.1% during the 1st quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock valued at $4,811,000 after purchasing an additional 4,526 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of UFP Industries by 28.6% during the first quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock worth $14,150,000 after buying an additional 25,508 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of UFP Industries by 299.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock valued at $687,000 after acquiring an additional 4,597 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of UFP Industries during the 1st quarter valued at $1,214,000. Finally, Empowered Funds LLC grew its position in UFP Industries by 14.9% during the 1st quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock worth $6,958,000 after acquiring an additional 7,320 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. BMO Capital Markets lifted their price target on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Benchmark lifted their target price on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and upped their price target for the company from $120.00 to $155.00 in a research report on Tuesday. Stifel Nicolaus lifted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, UFP Industries has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $135.00 on Wednesday. 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. The company has a 50 day simple moving average of $122.90 and a two-hundred day simple moving average of $119.05. The company has a market capitalization of $8.34 billion, a PE ratio of 16.79 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 for the quarter, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. UFP Industries’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.36 earnings per share. Research analysts anticipate that UFP Industries, Inc. will post 7.27 earnings per share for the current year.

UFP Industries Dividend Announcement

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