UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 651,611 shares of the construction company's stock after selling 132,922 shares during the period. Invesco Ltd. owned about 1.07% of UFP Industries worth $73,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in UFP Industries in the fourth quarter valued at approximately $83,149,000. Thrivent Financial for Lutherans grew its position in shares of UFP Industries by 3,820.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company's stock valued at $63,212,000 after purchasing an additional 546,830 shares during the period. Boston Partners raised its holdings in shares of UFP Industries by 100.8% during the fourth quarter. Boston Partners now owns 672,231 shares of the construction company's stock valued at $75,736,000 after acquiring an additional 337,463 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of UFP Industries in the fourth quarter worth approximately $30,457,000. Finally, Franklin Resources Inc. lifted its holdings in UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company's stock valued at $169,675,000 after purchasing an additional 188,969 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UFPI. Benchmark restated a "buy" rating and set a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com downgraded shares of UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Two 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 has a consensus rating of "Moderate Buy" and a consensus price target of $143.00.

UFP Industries Stock Up 1.2 %

Shares of UFP Industries stock traded up $1.24 during trading hours on Friday, reaching $104.78. 354,987 shares of the company were exchanged, compared to its average volume of 323,233. The firm has a market cap of $6.37 billion, a PE ratio of 15.48 and a beta of 1.45. The stock's fifty day moving average is $107.75 and its 200 day moving average is $118.65. UFP Industries, Inc. has a 1 year low of $99.42 and a 1 year high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. As a group, equities research analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current 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 issued a $0.35 dividend. This is a boost from UFP Industries's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.34%. UFP Industries's dividend payout ratio is presently 20.68%.

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.