738,122 Shares in UFP Industries, Inc. (NASDAQ:UFPI) Purchased by Norges Bank

Norges Bank bought a new stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 738,122 shares of the construction company's stock, valued at approximately $83,149,000. Norges Bank owned 1.22% of UFP Industries as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Asset Management Inc grew its stake in shares of UFP Industries by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company's stock valued at $213,000 after buying an additional 97 shares during the period. Robertson Stephens Wealth Management LLC grew its position in UFP Industries by 5.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company's stock valued at $216,000 after acquiring an additional 104 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in UFP Industries by 2.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company's stock worth $494,000 after acquiring an additional 104 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of UFP Industries by 6.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company's stock valued at $202,000 after purchasing an additional 105 shares in the last quarter. Finally, Highland Capital Management LLC lifted its stake in shares of UFP Industries by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 2,222 shares of the construction company's stock valued at $250,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

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UFP Industries Stock Down 2.1 %

Shares of NASDAQ UFPI traded down $2.26 during trading on Monday, reaching $104.18. 1,224,182 shares of the stock were exchanged, compared to its average volume of 315,934. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 15.39 and a beta of 1.45. The business's 50-day moving average price is $110.21 and its 200 day moving average price is $120.38. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a twelve month low of $100.58 and a twelve month high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.04). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. As a group, equities analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.34%. This is an increase from UFP Industries's previous quarterly dividend of $0.33. UFP Industries's dividend payout ratio is currently 20.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com cut shares of UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Benchmark restated a "buy" rating and set a $135.00 target price on shares of UFP Industries in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. 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.