Moran Wealth Management LLC Decreases Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Moran Wealth Management LLC lessened its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 1.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 65,589 shares of the construction company’s stock after selling 1,111 shares during the quarter. Moran Wealth Management LLC’s holdings in UFP Industries were worth $7,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in UFP Industries during the fourth quarter worth $30,457,000. FMR LLC increased its position in shares of UFP Industries by 13.4% during the 3rd 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 last quarter. Franklin Resources Inc. raised 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 worth $169,675,000 after purchasing an additional 188,969 shares during the period. Wasatch Advisors LP boosted its holdings in shares of 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 buying an additional 81,950 shares during the last quarter. Finally, Barclays PLC grew its position in UFP Industries by 109.0% during the third quarter. Barclays PLC now owns 135,996 shares of the construction company’s stock valued at $17,844,000 after buying an additional 70,927 shares during the period. 81.81% of the stock is owned by institutional investors.

UFP Industries Price Performance

UFPI opened at $108.38 on Tuesday. The firm has a 50-day moving average price of $113.02 and a 200-day moving average price of $122.28. UFP Industries, Inc. has a twelve month low of $102.35 and a twelve month high of $141.33. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 16.01 and a beta of 1.52.

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

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, March 3rd. UFP Industries’s payout ratio is presently 20.68%.

Insider Buying and Selling

In other news, Director William G. Currie sold 5,700 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the sale, the director now directly owns 61,140 shares in the company, valued at $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.58% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on UFPI. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark reissued a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.00.

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.