NewEdge Wealth LLC Cuts Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

NewEdge Wealth LLC cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 15.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,028 shares of the construction company's stock after selling 4,268 shares during the quarter. NewEdge Wealth LLC's holdings in UFP Industries were worth $2,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Principal Securities Inc. raised its holdings in shares of UFP Industries by 39.8% during the fourth quarter. Principal Securities Inc. now owns 615 shares of the construction company's stock worth $69,000 after purchasing an additional 175 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in UFP Industries during the 3rd quarter worth about $94,000. Millburn Ridgefield Corp purchased a new position in shares of UFP Industries during the 3rd quarter valued at about $140,000. Verdence Capital Advisors LLC acquired a new position in shares of UFP Industries in the 3rd quarter valued at about $210,000. Finally, Stephens Inc. AR acquired a new position in shares of UFP Industries in the 3rd quarter valued at about $226,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction dated Friday, December 13th. The shares were 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 in the company, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.58% of the stock is currently owned by corporate insiders.

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UFP Industries Price Performance

UFPI stock traded up $0.60 during mid-day trading on Tuesday, reaching $105.76. 848,880 shares of the company's stock were exchanged, compared to its average volume of 278,648. 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 12-month low of $102.24 and a 12-month high of $141.33. The stock's 50 day moving average is $113.56 and its 200 day moving average is $122.64. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 15.60 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced 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). The business had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. On average, research analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.35 dividend. 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 is Monday, March 3rd. UFP Industries's payout ratio is 20.68%.

Wall Street Analysts Forecast Growth

UFPI has been the subject of several recent research reports. StockNews.com cut UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Wedbush reaffirmed an "outperform" rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Finally, Benchmark reiterated a "buy" rating and issued a $135.00 target price on shares of UFP Industries in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.