First Trust Advisors LP Sells 906 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

First Trust Advisors LP cut its position in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 0.4% during the 4th quarter, HoldingsChannel reports. The firm owned 251,762 shares of the construction company’s stock after selling 906 shares during the period. First Trust Advisors LP’s holdings in UFP Industries were worth $19,952,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of UFP Industries by 3.0% during the third quarter. BlackRock Inc. now owns 10,532,771 shares of the construction company’s stock valued at $760,045,000 after purchasing an additional 307,354 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of UFP Industries by 0.5% during the third quarter. Vanguard Group Inc. now owns 7,378,757 shares of the construction company’s stock valued at $532,450,000 after purchasing an additional 33,825 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of UFP Industries by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,818,720 shares of the construction company’s stock valued at $223,384,000 after purchasing an additional 101,530 shares in the last quarter. State Street Corp boosted its position in shares of UFP Industries by 2.3% during the second quarter. State Street Corp now owns 2,021,865 shares of the construction company’s stock valued at $137,770,000 after purchasing an additional 45,440 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of UFP Industries by 24.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,699,465 shares of the construction company’s stock valued at $136,384,000 after purchasing an additional 333,229 shares in the last quarter. 81.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

UFPI has been the topic of several analyst reports. DA Davidson boosted their target price on UFP Industries from $102.00 to $112.00 in a report on Wednesday, May 3rd. Benchmark boosted their target price on UFP Industries from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. BMO Capital Markets boosted their target price on UFP Industries from $95.00 to $100.00 in a report on Tuesday, May 16th. Stifel Nicolaus dropped their target price on UFP Industries from $102.00 to $100.00 in a report on Wednesday, May 3rd. Finally, StockNews.com initiated coverage on UFP Industries in a report on Thursday. They issued a “buy” rating on the stock.

UFP Industries Stock Down 2.7 %

UFPI stock opened at $82.66 on Monday. UFP Industries, Inc. has a 1-year low of $64.13 and a 1-year high of $99.40. The business has a fifty day moving average price of $79.35 and a 200-day moving average price of $82.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.27 and a quick ratio of 2.46. The stock has a market capitalization of $5.10 billion, a P/E ratio of 8.29 and a beta of 1.48.

UFP Industries (NASDAQ:UFPI – Get Rating) last posted its quarterly 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. UFP Industries had a return on equity of 24.92% and a net margin of 7.02%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business earned $3.00 earnings per share. The company’s revenue was down 26.8% on a year-over-year basis. Equities analysts forecast that UFP Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid 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 is currently 10.03%.

Insider Transactions at UFP Industries

In related news, CEO Matthew J. Missad sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $83.60, for a total transaction of $418,000.00. Following the completion of the sale, the chief executive officer now owns 365,545 shares in the company, valued at $30,559,562. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Michael R. Cole sold 4,600 shares of the company’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $85.40, for a total transaction of $392,840.00. Following the completion of the sale, the chief financial officer now owns 152,689 shares in the company, valued at $13,039,640.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew J. Missad sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $83.60, for a total value of $418,000.00. Following the sale, the chief executive officer now owns 365,545 shares of the company’s stock, valued at approximately $30,559,562. The disclosure for this sale can be found here. Insiders sold 89,591 shares of company stock worth $7,524,975 over the last quarter. 3.55% of the stock is currently owned by insiders.

About UFP Industries

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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.