UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Summit Global Investments

Summit Global Investments trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 26.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 21,235 shares of the construction company’s stock after selling 7,561 shares during the period. Summit Global Investments’ holdings in UFP Industries were worth $2,666,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in UFPI. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of UFP Industries by 716.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock valued at $159,876,000 after purchasing an additional 1,370,105 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of UFP Industries by 93.0% during the third quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company’s stock valued at $69,544,000 after buying an additional 327,220 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of UFP Industries by 31.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 749,259 shares of the construction company’s stock valued at $76,724,000 after acquiring an additional 179,323 shares during the period. Raymond James & Associates grew its stake in UFP Industries by 133.2% during the 4th quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock valued at $23,623,000 after purchasing an additional 107,477 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of UFP Industries by 24.8% in the third quarter. Invesco Ltd. now owns 381,171 shares of the construction company’s stock valued at $39,032,000 after purchasing an additional 75,711 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

Shares of NASDAQ UFPI traded up $1.16 during midday trading on Friday, reaching $116.65. 187,885 shares of the stock were exchanged, compared to its average volume of 282,995. The company has a quick ratio of 3.12, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $115.80 and a two-hundred day simple moving average of $113.68. UFP Industries, Inc. has a twelve month low of $77.47 and a twelve month high of $128.65. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 14.36 and a beta of 1.47.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 EPS for the quarter, beating 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 firm’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the business earned $1.98 earnings per share. As a group, analysts anticipate that UFP Industries, Inc. will post 7.4 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.33 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.32 annualized dividend and a dividend yield of 1.13%. UFP Industries’s dividend payout ratio is presently 16.42%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 of the company’s stock, valued at $41,437,558.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.58% of the stock is currently owned by insiders.

UFP Industries 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.