Victory Capital Management Inc. Sells 355,273 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Victory Capital Management Inc. lowered its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 22.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,230,057 shares of the construction company’s stock after selling 355,273 shares during the quarter. Victory Capital Management Inc. owned about 1.99% of UFP Industries worth $154,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of UFPI. Commonwealth Equity Services LLC raised its holdings in shares of UFP Industries by 14.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,042 shares of the construction company’s stock valued at $1,233,000 after purchasing an additional 1,554 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of UFP Industries by 1.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,251 shares of the construction company’s stock valued at $1,664,000 after purchasing an additional 234 shares in the last quarter. Raymond James & Associates raised its holdings in shares of UFP Industries by 59.6% during the 3rd quarter. Raymond James & Associates now owns 80,677 shares of the construction company’s stock valued at $8,261,000 after purchasing an additional 30,142 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of UFP Industries by 48.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,814 shares of the construction company’s stock valued at $595,000 after purchasing an additional 1,903 shares in the last quarter. Finally, Argent Capital Management LLC raised its holdings in shares of UFP Industries by 27.3% during the 3rd quarter. Argent Capital Management LLC now owns 4,008 shares of the construction company’s stock valued at $410,000 after purchasing an additional 860 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ UFPI opened at $113.00 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.12. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 14.05 and a beta of 1.47. The company’s fifty day moving average is $115.71 and its two-hundred day moving average is $113.67. UFP Industries, Inc. has a 52-week low of $76.89 and a 52-week high of $128.65.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the business posted $1.98 EPS. Equities research analysts forecast that UFP Industries, Inc. will post 7.4 EPS for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.32 annualized dividend and a yield of 1.17%. UFP Industries’s dividend payout ratio is 16.42%.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the sale, the chief executive officer now directly owns 363,328 shares in the company, valued at approximately $41,437,558.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on UFPI shares. Stifel Nicolaus lifted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Benchmark dropped their target price on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a report on Wednesday. Wedbush reiterated a “neutral” rating and issued a $102.00 target price on shares of UFP Industries in a report on Thursday, February 22nd. Finally, StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.20.

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.