First Trust Advisors LP Grows Stake in UFP Industries, Inc. (NASDAQ:UFPI)

First Trust Advisors LP lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 291,228 shares of the construction company's stock after buying an additional 50,537 shares during the period. First Trust Advisors LP owned about 0.47% of UFP Industries worth $36,564,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in shares of UFP Industries during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC bought a new stake in UFP Industries during the fourth quarter worth $30,000. SRS Capital Advisors Inc. lifted its holdings in UFP Industries by 218.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company's stock worth $36,000 after acquiring an additional 197 shares during the period. Eagle Bay Advisors LLC bought a new stake in UFP Industries during the fourth quarter worth $49,000. Finally, Global Retirement Partners LLC lifted its holdings in UFP Industries by 46.2% during the fourth quarter. Global Retirement Partners LLC now owns 440 shares of the construction company's stock worth $51,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 81.81% of the company's stock.

Insider Activity at UFP Industries

In related news, Director Bruce A. Merino sold 16,472 shares of the business's stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the sale, the director now directly owns 7,107 shares in the company, valued at approximately $837,773.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Michael R. Cole sold 1,452 shares of the business's stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $119.28, for a total transaction of $173,194.56. Following the completion of the transaction, the chief financial officer now directly owns 165,155 shares in the company, valued at $19,699,688.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bruce A. Merino sold 16,472 shares of the business's stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total value of $1,941,719.36. Following the transaction, the director now owns 7,107 shares of the company's stock, valued at $837,773.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,980 shares of company stock worth $3,052,415. 2.58% of the stock is owned by company insiders.

UFP Industries Stock Performance

Shares of UFPI traded down $1.39 during mid-day trading on Friday, hitting $113.80. The stock had a trading volume of 236,093 shares, compared to its average volume of 203,877. The firm has a market cap of $7.03 billion, a P/E ratio of 14.15 and a beta of 1.45. The business has a fifty day moving average price of $116.90 and a 200-day moving average price of $116.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.37. UFP Industries, Inc. has a 52 week low of $87.13 and a 52 week high of $128.65.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The business's revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 earnings per share. On average, equities research analysts expect that UFP Industries, Inc. will post 7.53 EPS for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.16%. UFP Industries's payout ratio is 16.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on UFPI. Wedbush reiterated a "neutral" rating and set a $102.00 price target on shares of UFP Industries in a report on Thursday, February 22nd. Stifel Nicolaus lifted their price target on UFP Industries from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Benchmark dropped their price target on UFP Industries from $137.00 to $133.00 and set a "buy" rating on the stock in a report on Wednesday, May 1st. Finally, StockNews.com lowered UFP Industries from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 4th. Two equities research 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $116.50.

About UFP Industries

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.