Kennedy Capital Management LLC decreased its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,037 shares of the construction company's stock after selling 21,569 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.22% of UFP Industries worth $14,874,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in UFP Industries by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company's stock worth $82,847,000 after acquiring an additional 60,859 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock valued at $102,158,000 after acquiring an additional 31,381 shares during the last quarter. CIBC Asset Management Inc raised its position in UFP Industries by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company's stock valued at $213,000 after purchasing an additional 97 shares during the period. Franklin Resources Inc. raised its holdings in shares of 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 buying an additional 188,969 shares during the period. Finally, Argent Capital Management LLC lifted its position in shares of UFP Industries by 35.8% during the fourth quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company's stock worth $1,386,000 after purchasing an additional 3,241 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.
UFP Industries Price Performance
Shares of NASDAQ:UFPI traded down $0.74 on Tuesday, hitting $106.32. The company had a trading volume of 111,304 shares, compared to its average volume of 321,292. The company has a market cap of $6.47 billion, a PE ratio of 15.70 and a beta of 1.45. The business has a 50 day moving average of $108.67 and a 200 day moving average of $119.21. UFP Industries, Inc. has a 52-week low of $99.42 and a 52-week high of $141.33. 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 (NASDAQ:UFPI - Get Free Report) last issued 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). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, equities analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.
UFP Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.35 per share. This is a positive change from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.32%. The ex-dividend date was Monday, March 3rd. UFP Industries's dividend payout ratio (DPR) is currently 20.68%.
Wall Street Analyst Weigh In
UFPI has been the subject of several recent research reports. Benchmark reiterated a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a research note on Wednesday, February 19th. StockNews.com cut UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries presently has an average rating of "Moderate Buy" and a consensus price target of $143.00.
Read Our Latest Report on UFPI
UFP Industries Company Profile
(
Free Report)
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.
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