Geode Capital Management LLC Sells 43,592 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Geode Capital Management LLC lowered its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,484,629 shares of the construction company's stock after selling 43,592 shares during the period. Geode Capital Management LLC owned 2.45% of UFP Industries worth $167,280,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of UFPI. Franklin Resources Inc. raised its stake in UFP Industries by 5.0% during the fourth quarter. Franklin Resources Inc. now owns 1,287,833 shares of the construction company's stock worth $145,074,000 after buying an additional 61,861 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 worth $102,158,000 after acquiring an additional 31,381 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of UFP Industries by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 772,001 shares of the construction company's stock worth $86,966,000 after acquiring an additional 2,160 shares in the last quarter. Norges Bank acquired a new position in shares of UFP Industries in the 4th quarter valued at about $83,149,000. Finally, JPMorgan Chase & Co. boosted its position in shares of UFP Industries by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 698,684 shares of the construction company's stock valued at $78,707,000 after purchasing an additional 67,280 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

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UFP Industries Stock Up 0.6 %

NASDAQ:UFPI traded up $0.63 on Friday, hitting $106.42. The stock had a trading volume of 398,487 shares, compared to its average volume of 321,293. 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 52 week low of $99.42 and a 52 week high of $141.33. The business's fifty day moving average is $108.87 and its 200 day moving average is $119.46. The company has a market cap of $6.47 billion, a PE ratio of 15.72 and a beta of 1.45.

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 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 for the quarter, compared to analyst estimates of $1.43 billion. On average, equities research analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.32%. This is a positive change from UFP Industries's previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. UFP Industries's dividend payout ratio (DPR) is 20.68%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on UFPI shares. Benchmark reiterated a "buy" rating and issued a $135.00 target price on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com lowered 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, UFP Industries presently has a consensus rating of "Moderate Buy" and an average price target of $143.00.

About UFP Industries

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.