Corebridge Financial Inc. Lowers Position in UFP Industries, Inc. (NASDAQ:UFPI)

Corebridge Financial Inc. lowered its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,378 shares of the construction company's stock after selling 5,566 shares during the period. Corebridge Financial Inc. owned about 0.16% of UFP Industries worth $11,082,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of UFP Industries by 10.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company's stock worth $82,847,000 after buying an additional 60,859 shares during the last quarter. Citigroup Inc. boosted its stake in UFP Industries by 50.7% in the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company's stock valued at $15,670,000 after acquiring an additional 40,162 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of UFP Industries by 3.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock valued at $102,158,000 after acquiring an additional 31,381 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of UFP Industries by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company's stock worth $101,011,000 after purchasing an additional 4,006 shares during the last quarter. Finally, CIBC Asset Management Inc increased 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 worth $213,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 81.81% of the company's stock.

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UFP Industries Stock Performance

Shares of NASDAQ:UFPI traded up $0.73 during trading on Monday, hitting $107.04. 442,654 shares of the company were exchanged, compared to its average volume of 308,067. UFP Industries, Inc. has a 52-week low of $102.35 and a 52-week high of $141.33. The stock has a 50 day moving average of $111.38 and a 200 day moving average of $121.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The company has a market cap of $6.51 billion, a PE ratio of 15.81 and a beta of 1.52.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.43 billion. As a group, equities research analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from UFP Industries's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. UFP Industries's dividend payout ratio is presently 20.68%.

Wall Street Analysts Forecast Growth

UFPI has been the subject of several research reports. StockNews.com lowered UFP Industries from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Benchmark reissued a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. Two research 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 stock presently 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.