Bank of New York Mellon Corp Raises Position in UFP Industries, Inc. (NASDAQ:UFPI)

Bank of New York Mellon Corp lifted its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 4.5% in the 4th quarter, HoldingsChannel reports. The firm owned 577,832 shares of the construction company’s stock after acquiring an additional 25,126 shares during the period. Bank of New York Mellon Corp’s holdings in UFP Industries were worth $65,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. FMR LLC grew its holdings in UFP Industries by 13.4% during the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock valued at $214,604,000 after purchasing an additional 193,891 shares during the period. Franklin Resources Inc. grew its stake in shares of UFP Industries by 18.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after acquiring an additional 188,969 shares during the period. Wasatch Advisors LP increased its holdings in UFP Industries by 16.1% in the 3rd quarter. Wasatch Advisors LP now owns 590,712 shares of the construction company’s stock worth $77,507,000 after acquiring an additional 81,950 shares in the last quarter. Barclays PLC raised its stake in UFP Industries by 109.0% during the 3rd quarter. Barclays PLC now owns 135,996 shares of the construction company’s stock worth $17,844,000 after acquiring an additional 70,927 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in UFP Industries by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock valued at $82,847,000 after purchasing an additional 60,859 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UFPI. StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark reiterated a “buy” rating and issued a $135.00 price target on shares of UFP Industries in a research note on Wednesday, February 19th. Finally, Wedbush restated an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Trading Down 1.7 %

Shares of UFPI opened at $105.16 on Tuesday. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 15.53 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, Inc. has a 1-year low of $104.93 and a 1-year high of $141.33. The company has a 50-day moving average of $113.72 and a 200 day moving average of $122.75.

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

UFP Industries Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.33%. UFP Industries’s payout ratio is currently 20.68%.

Insider Buying and Selling at UFP Industries

In related news, Director William G. Currie sold 5,700 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.58% of the company’s stock.

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.