UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,182,658 shares of the construction company's stock after selling 80,126 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 5.24% of UFP Industries worth $358,526,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in UFP Industries in the fourth quarter worth $83,149,000. Thrivent Financial for Lutherans grew its position in shares of UFP Industries by 3,820.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company's stock valued at $63,212,000 after buying an additional 546,830 shares during the last quarter. Boston Partners raised its stake in UFP Industries by 100.8% during the fourth quarter. Boston Partners now owns 672,231 shares of the construction company's stock worth $75,736,000 after acquiring an additional 337,463 shares during the period. Raymond James Financial Inc. bought a new position in UFP Industries in the fourth quarter worth about $30,457,000. Finally, First Trust Advisors LP boosted its stake in UFP Industries by 39.3% in the fourth quarter. First Trust Advisors LP now owns 791,886 shares of the construction company's stock valued at $89,206,000 after acquiring an additional 223,522 shares during the period. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Stock Performance

Shares of NASDAQ UFPI traded down $1.39 during midday trading on Friday, reaching $106.59. 71,694 shares of the company traded hands, compared to its average volume of 322,331. The stock has a 50-day moving average price of $107.02 and a 200 day moving average price of $117.99. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 15.73 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. UFP Industries, Inc. has a 52 week low of $99.42 and a 52 week high of $141.33.

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

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 1.31%. UFP Industries's dividend payout ratio (DPR) is 20.68%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on UFPI shares. Benchmark restated a "buy" rating and set a $135.00 price objective 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 report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, UFP Industries currently has a consensus 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.