Legal & General Group Plc Sells 4,513 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Legal & General Group Plc lessened its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,257 shares of the construction company's stock after selling 4,513 shares during the quarter. Legal & General Group Plc owned 0.21% of UFP Industries worth $14,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UFPI. FMR LLC boosted its position in UFP Industries by 7.1% in the 4th quarter. FMR LLC now owns 1,751,264 shares of the construction company's stock valued at $197,280,000 after buying an additional 115,687 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of UFP Industries by 5.0% during the fourth quarter. Franklin Resources Inc. now owns 1,287,833 shares of the construction company's stock worth $145,074,000 after buying an additional 61,861 shares during the period. Allspring Global Investments Holdings LLC raised its position in UFP Industries by 3.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock valued at $102,158,000 after buying an additional 31,381 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in UFP Industries by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 772,001 shares of the construction company's stock valued at $86,966,000 after acquiring an additional 2,160 shares in the last quarter. Finally, Norges Bank bought a new position in shares of UFP Industries during the 4th quarter worth approximately $83,149,000. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Stock Performance

Shares of UFP Industries stock traded up $1.24 during trading on Friday, hitting $104.78. 354,987 shares of the stock were exchanged, compared to its average volume of 323,233. UFP Industries, Inc. has a 1-year low of $99.42 and a 1-year high of $141.33. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 15.48 and a beta of 1.45. The company has a fifty day moving average price of $107.75 and a 200-day moving average price of $118.65. 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 released its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, equities analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.35 per share. 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 yield of 1.34%. UFP Industries's dividend payout ratio is currently 20.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com downgraded 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $143.00.

UFP Industries Company 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.