Brandywine Global Investment Management LLC Sells 2,526 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Brandywine Global Investment Management LLC trimmed its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,910 shares of the construction company's stock after selling 2,526 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.06% of UFP Industries worth $4,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of UFPI. Norges Bank bought a new position in shares of UFP Industries during the fourth quarter valued at approximately $83,149,000. Thrivent Financial for Lutherans raised its holdings in UFP Industries by 3,820.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company's stock worth $63,212,000 after purchasing an additional 546,830 shares in the last quarter. Boston Partners raised its holdings in UFP Industries by 100.8% in the 4th quarter. Boston Partners now owns 672,231 shares of the construction company's stock worth $75,736,000 after purchasing an additional 337,463 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of UFP Industries in the 4th quarter worth about $30,457,000. Finally, FMR LLC boosted its stake 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 in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

UFP Industries Stock Up 2.0 %

NASDAQ UFPI traded up $2.10 during trading hours on Friday, reaching $106.44. 728,464 shares of the company's stock traded hands, compared to its average volume of 312,301. UFP Industries, Inc. has a 52-week low of $100.58 and a 52-week high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The firm has a 50-day simple moving average of $110.50 and a 200 day simple moving average of $120.58. The firm has a market cap of $6.47 billion, a PE ratio of 15.72 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.04). The business had revenue of $1.46 billion for 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%. Sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.35 dividend. This is a boost from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Monday, March 3rd. UFP Industries's dividend payout ratio is currently 20.68%.

Wall Street Analysts Forecast Growth

Several analysts have commented on UFPI shares. Benchmark restated a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com lowered UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $143.00.

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.