Belpointe Asset Management LLC Buys Shares of 926 UFP Industries, Inc. (NASDAQ:UFPI)

Belpointe Asset Management LLC bought a new stake in UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) during the fourth quarter, Holdings Channel.com reports. The firm bought 926 shares of the construction company’s stock, valued at approximately $73,000.

A number of other hedge funds also recently added to or reduced their stakes in UFPI. BlackRock Inc. lifted its stake in UFP Industries by 3.0% in the third quarter. BlackRock Inc. now owns 10,532,771 shares of the construction company’s stock valued at $760,045,000 after buying an additional 307,354 shares during the last quarter. Renaissance Technologies LLC lifted its stake in UFP Industries by 137.9% in the third quarter. Renaissance Technologies LLC now owns 435,909 shares of the construction company’s stock valued at $31,455,000 after buying an additional 252,700 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in UFP Industries by 87.2% in the first quarter. Goldman Sachs Group Inc. now owns 369,322 shares of the construction company’s stock valued at $28,497,000 after buying an additional 172,009 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in UFP Industries by 16.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 793,594 shares of the construction company’s stock valued at $62,892,000 after buying an additional 110,395 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in UFP Industries in the fourth quarter valued at $8,120,000. 81.69% of the stock is currently owned by institutional investors.

Insider Transactions at UFP Industries

In other news, CFO Michael R. Cole sold 4,600 shares of UFP Industries stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $85.40, for a total value of $392,840.00. Following the transaction, the chief financial officer now directly owns 152,689 shares of the company’s stock, valued at $13,039,640.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Michael R. Cole sold 4,600 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $85.40, for a total transaction of $392,840.00. Following the transaction, the chief financial officer now directly owns 152,689 shares of the company’s stock, valued at $13,039,640.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Missad sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $83.60, for a total transaction of $418,000.00. Following the transaction, the chief executive officer now directly owns 365,545 shares in the company, valued at $30,559,562. The disclosure for this sale can be found here. Insiders have sold a total of 89,591 shares of company stock valued at $7,524,975 over the last ninety days. Corporate insiders own 3.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Benchmark raised their price target on UFP Industries from $85.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. StockNews.com assumed coverage on UFP Industries in a report on Thursday. They set a “buy” rating on the stock. Stifel Nicolaus lowered their price target on UFP Industries from $102.00 to $100.00 in a report on Wednesday, May 3rd. DA Davidson raised their price target on UFP Industries from $102.00 to $112.00 in a report on Wednesday, May 3rd. Finally, BMO Capital Markets raised their price target on UFP Industries from $95.00 to $100.00 in a report on Tuesday, May 16th.

UFP Industries Price Performance

NASDAQ:UFPI opened at $82.66 on Monday. The business’s 50-day moving average price is $79.35 and its 200 day moving average price is $82.20. The firm has a market cap of $5.10 billion, a P/E ratio of 8.29 and a beta of 1.48. UFP Industries, Inc. has a 52-week low of $64.13 and a 52-week high of $99.40. The company has a quick ratio of 2.46, a current ratio of 4.27 and a debt-to-equity ratio of 0.10.

UFP Industries (NASDAQ:UFPI – Get Rating) last released its earnings results on Tuesday, May 2nd. The construction company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.33. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. UFP Industries had a net margin of 7.02% and a return on equity of 24.92%. The firm’s quarterly revenue was down 26.8% compared to the same quarter last year. During the same period last year, the firm posted $3.00 earnings per share. As a group, sell-side analysts predict that UFP Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, May 31st. UFP Industries’s dividend payout ratio (DPR) is currently 10.03%.

UFP Industries Profile

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UFP Industries, Inc engages in the supply of products primarily manufactured from wood, wood and non-wood composites, and other materials to retail, packaging, and construction markets. It operates through the following segments: Retail Solutions, Packaging, and Construction. The Retail Solutions segment sells treated lumber products, wood plastic composite, mineral based composite decking and related decking accessories, exterior sliding, pattern, trim, and facia products.