Granite Investment Partners LLC Sells 3,639 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Granite Investment Partners LLC lessened its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,885 shares of the construction company's stock after selling 3,639 shares during the period. Granite Investment Partners LLC owned approximately 0.06% of UFP Industries worth $3,817,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of UFPI. Sterling Capital Management LLC raised its stake in UFP Industries by 11.0% during the 4th quarter. Sterling Capital Management LLC now owns 7,494 shares of the construction company's stock valued at $844,000 after acquiring an additional 740 shares in the last quarter. Argent Trust Co lifted its stake in UFP Industries by 18.3% in the 4th quarter. Argent Trust Co now owns 5,349 shares of the construction company's stock worth $603,000 after acquiring an additional 826 shares in the last quarter. DRW Securities LLC acquired a new position in shares of UFP Industries in the fourth quarter worth $430,000. Raymond James Financial Inc. bought a new position in UFP Industries during the fourth quarter valued at approximately $30,457,000. Finally, Bank of Montreal Can lifted its stake in UFP Industries by 12.8% in the fourth quarter. Bank of Montreal Can now owns 6,375 shares of the construction company's stock valued at $718,000 after acquiring an additional 722 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Trading Up 1.2 %

Shares of UFPI stock traded up $1.24 on Friday, reaching $104.78. The company had a trading volume of 354,987 shares, compared to its average volume of 323,593. The stock has a market cap of $6.37 billion, a PE ratio of 15.48 and a beta of 1.45. The company has a 50-day moving average of $107.97 and a 200-day moving average of $118.83. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12 month low of $99.42 and a 12 month high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its earnings results 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 company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. On average, equities analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.35 per share. The ex-dividend date was Monday, March 3rd. This is a boost from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.34%. UFP Industries's payout ratio is 20.68%.

Analysts Set New Price Targets

UFPI has been the subject of a number of research analyst reports. Benchmark reissued a "buy" rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com lowered shares of UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.