New York Life Investment Management LLC acquired a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,283 shares of the construction company's stock, valued at approximately $708,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. FourThought Financial Partners LLC acquired a new position in UFP Industries during the fourth quarter worth about $259,000. Bank of New York Mellon Corp raised its stake in UFP Industries by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 577,832 shares of the construction company's stock worth $65,093,000 after acquiring an additional 25,126 shares in the last quarter. Handelsbanken Fonder AB raised its stake in UFP Industries by 11.0% during the fourth quarter. Handelsbanken Fonder AB now owns 14,095 shares of the construction company's stock worth $1,588,000 after acquiring an additional 1,400 shares in the last quarter. Kestra Investment Management LLC raised its stake in UFP Industries by 23.6% during the fourth quarter. Kestra Investment Management LLC now owns 3,514 shares of the construction company's stock worth $396,000 after acquiring an additional 670 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in UFP Industries during the fourth quarter worth about $231,000. Institutional investors own 81.81% of the company's stock.
Insider Activity
In other news, Director William G. Currie sold 5,700 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the sale, the director now directly owns 61,140 shares of the company's stock, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.58% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Benchmark reaffirmed 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 downgraded UFP Industries from a "buy" rating to a "hold" rating in a research note 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's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $143.00.
Read Our Latest Report on UFP Industries
UFP Industries Trading Up 1.7 %
NASDAQ:UFPI traded up $1.84 on Friday, reaching $109.13. 391,952 shares of the stock traded hands, compared to its average volume of 280,644. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 16.12 and a beta of 1.45. The company's 50 day moving average is $113.08 and its 200-day moving average is $122.31. 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, Inc. has a 1-year low of $102.35 and a 1-year high of $141.33.
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 (EPS) 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 firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. Equities research analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.
UFP Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.35 per share. The ex-dividend date is Monday, March 3rd. This is a positive change from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.28%. UFP Industries's dividend payout ratio (DPR) is currently 20.68%.
About UFP Industries
(
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.
Featured Articles
Before you consider UFP Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and UFP Industries wasn't on the list.
While UFP Industries currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
