Los Angeles Capital Management LLC Trims Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Los Angeles Capital Management LLC reduced its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 61.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,813 shares of the construction company’s stock after selling 42,399 shares during the quarter. Los Angeles Capital Management LLC’s holdings in UFP Industries were worth $3,366,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of UFPI. Kestra Advisory Services LLC grew its position in shares of UFP Industries by 1.1% in the third quarter. Kestra Advisory Services LLC now owns 9,805 shares of the construction company’s stock valued at $1,004,000 after purchasing an additional 103 shares in the last quarter. Blue Trust Inc. boosted its holdings in UFP Industries by 25.6% in the 4th quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock valued at $75,000 after purchasing an additional 121 shares during the period. Arizona State Retirement System grew its holdings in shares of UFP Industries by 0.8% during the third quarter. Arizona State Retirement System now owns 17,680 shares of the construction company’s stock worth $1,810,000 after purchasing an additional 134 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of UFP Industries by 46.2% in the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the construction company’s stock worth $51,000 after buying an additional 139 shares during the last quarter. Finally, Westover Capital Advisors LLC increased its position in shares of UFP Industries by 3.0% during the 3rd quarter. Westover Capital Advisors LLC now owns 5,420 shares of the construction company’s stock valued at $555,000 after purchasing an additional 160 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UFPI. Benchmark cut 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, May 1st. Stifel Nicolaus boosted their target price on UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Finally, Wedbush restated a “neutral” rating and issued a $102.00 price objective on shares of UFP Industries in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.20.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 5,018 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.58% of the stock is currently owned by insiders.

UFP Industries Price Performance

UFPI opened at $116.65 on Monday. UFP Industries, Inc. has a 12-month low of $77.47 and a 12-month high of $128.65. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 14.51 and a beta of 1.47. The company has a current ratio of 4.79, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $115.89 and a two-hundred day simple moving average of $114.00.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the company posted $1.98 EPS. UFP Industries’s revenue was down 10.1% on a year-over-year basis. Research analysts predict that UFP Industries, Inc. will post 7.37 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

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

UFP Industries Company 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.