UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 23.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,264 shares of the construction company’s stock after selling 981 shares during the quarter. Commonwealth Equity Services LLC’s holdings in UFP Industries were worth $368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew 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 worth $82,847,000 after purchasing an additional 60,859 shares during the period. Allspring Global Investments Holdings LLC grew its holdings 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 worth $102,158,000 after purchasing an additional 31,381 shares during the last quarter. CIBC Asset Management Inc increased its stake in UFP Industries by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock valued at $213,000 after purchasing an additional 97 shares during the period. Franklin Resources Inc. grew its position in UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after buying an additional 188,969 shares during the last quarter. Finally, Argent Capital Management LLC grew its holdings in UFP Industries by 35.8% during the fourth quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company’s stock worth $1,386,000 after acquiring an additional 3,241 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UFPI has been the subject of several recent research reports. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark restated a “buy” rating and set a $135.00 price target 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

UFP Industries Stock Performance

Shares of UFPI stock opened at $106.44 on Monday. The firm has a market capitalization of $6.47 billion, a P/E ratio of 15.72 and a beta of 1.45. UFP Industries, Inc. has a 12 month low of $100.58 and a 12 month high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The company’s fifty day moving average price is $110.50 and its two-hundred day moving average price is $120.58.

UFP Industries (NASDAQ:UFPI) last issued its 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). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. On average, research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.35 dividend. 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 1.32%. The ex-dividend date of this dividend was Monday, March 3rd. UFP Industries’s payout ratio is presently 20.68%.

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.