Summit Global Investments lowered its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 42.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,216 shares of the construction company's stock after selling 8,264 shares during the quarter. Summit Global Investments' holdings in UFP Industries were worth $1,263,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. CIBC Asset Management Inc acquired a new position in shares of UFP Industries during the third quarter worth $236,000. Natixis Advisors LLC grew its position in UFP Industries by 4.6% during the 3rd quarter. Natixis Advisors LLC now owns 30,639 shares of the construction company's stock worth $4,020,000 after acquiring an additional 1,361 shares during the last quarter. Jennison Associates LLC increased its holdings in UFP Industries by 7.8% in the 3rd quarter. Jennison Associates LLC now owns 10,054 shares of the construction company's stock worth $1,319,000 after purchasing an additional 727 shares in the last quarter. Intech Investment Management LLC bought a new position in UFP Industries in the 3rd quarter valued at approximately $1,404,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of UFP Industries by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,760 shares of the construction company's stock valued at $1,281,000 after acquiring an additional 521 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.
UFP Industries Trading Down 0.1 %
Shares of UFP Industries stock traded down $0.16 on Thursday, reaching $110.09. 364,681 shares of the company's stock were exchanged, compared to its average volume of 290,424. The company has a market capitalization of $6.70 billion, a P/E ratio of 16.26 and a beta of 1.52. UFP Industries, Inc. has a 52 week low of $102.35 and a 52 week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The firm's 50-day moving average is $111.92 and its two-hundred day moving average is $121.19.
UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 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 company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. Sell-side analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.
UFP Industries Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.35 per share. This is an increase from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, March 3rd. UFP Industries's dividend payout ratio is 20.68%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on UFPI. Benchmark restated a "buy" rating and set a $135.00 price target on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com downgraded shares of UFP Industries from a "buy" rating to a "hold" rating 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 stock. According to MarketBeat, UFP Industries currently has a consensus rating of "Moderate Buy" and an average target price of $143.00.
Check Out Our Latest Report on UFPI
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.
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