Principal Financial Group Inc. Buys 576 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Principal Financial Group Inc. raised its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 160,663 shares of the construction company’s stock after buying an additional 576 shares during the period. Principal Financial Group Inc.’s holdings in UFP Industries were worth $18,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of UFP Industries by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock valued at $82,847,000 after acquiring an additional 60,859 shares in the last quarter. Citigroup Inc. raised its position in UFP Industries by 50.7% in the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock valued at $15,670,000 after purchasing an additional 40,162 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock valued at $102,158,000 after purchasing an additional 31,381 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of UFP Industries by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock worth $101,011,000 after purchasing an additional 4,006 shares during the last quarter. Finally, Seizert Capital Partners LLC increased its stake in shares of UFP Industries by 85.5% in the third quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company’s stock valued at $4,543,000 after buying an additional 15,958 shares during the period. Institutional investors own 81.81% of the company’s stock.

Insider Buying and Selling at UFP Industries

In other news, Director William G. Currie sold 5,700 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the transaction, the director now owns 61,140 shares of the company’s stock, valued at $7,739,712.60. This represents a 8.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.58% of the company’s stock.

UFP Industries Stock Down 1.8 %

Shares of UFP Industries stock opened at $106.65 on Tuesday. The stock’s 50-day moving average is $114.37 and its 200 day moving average is $123.01. UFP Industries, Inc. has a one year low of $105.57 and a one year high of $141.33. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 15.75 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. Equities research analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, March 3rd. UFP Industries’s dividend payout ratio (DPR) is presently 20.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Wedbush reaffirmed an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $143.00.

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.