AIA Group Ltd Purchases 593 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

AIA Group Ltd grew its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,169 shares of the construction company’s stock after buying an additional 593 shares during the quarter. AIA Group Ltd’s holdings in UFP Industries were worth $1,277,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of UFPI. American Century Companies Inc. raised its stake in shares of UFP Industries by 13.3% during the first quarter. American Century Companies Inc. now owns 12,877 shares of the construction company’s stock valued at $994,000 after acquiring an additional 1,513 shares during the last quarter. Citigroup Inc. raised its stake in shares of UFP Industries by 4.7% during the first quarter. Citigroup Inc. now owns 64,448 shares of the construction company’s stock valued at $4,972,000 after acquiring an additional 2,886 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of UFP Industries by 9.2% during the first quarter. PNC Financial Services Group Inc. now owns 9,374 shares of the construction company’s stock valued at $722,000 after acquiring an additional 792 shares during the last quarter. Bank of Montreal Can increased its position in shares of UFP Industries by 2.1% during the first quarter. Bank of Montreal Can now owns 17,664 shares of the construction company’s stock valued at $1,445,000 after buying an additional 366 shares during the period. Finally, MetLife Investment Management LLC increased its position in shares of UFP Industries by 54.6% during the first quarter. MetLife Investment Management LLC now owns 32,217 shares of the construction company’s stock valued at $2,486,000 after buying an additional 11,377 shares during the period. 81.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Matthew J. Missad sold 5,018 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total transaction of $572,302.90. Following the sale, the chief executive officer now owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.58% of the company’s stock.

UFP Industries Price Performance

Shares of UFPI opened at $110.65 on Friday. The stock has a market cap of $6.81 billion, a PE ratio of 13.73 and a beta of 1.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.12 and a current ratio of 4.41. UFP Industries, Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $128.65. The firm’s 50-day simple moving average is $116.32 and its two-hundred day simple moving average is $112.81.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.06). The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.61 billion. UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. UFP Industries’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 EPS. Analysts anticipate that UFP Industries, Inc. will post 7.4 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Thursday, February 29th. This is a boost from UFP Industries’s previous quarterly dividend of $0.20. UFP Industries’s dividend payout ratio is 16.38%.

Analyst Ratings Changes

Several brokerages recently issued reports on UFPI. Benchmark boosted their price target on shares of UFP Industries from $120.00 to $137.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Stifel Nicolaus boosted their price target on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Wedbush reiterated a “neutral” rating and set a $102.00 price target on shares of UFP Industries in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

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.