Wedge Capital Management L L P NC Lowers Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Wedge Capital Management L L P NC decreased its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,409 shares of the construction company's stock after selling 9,013 shares during the quarter. Wedge Capital Management L L P NC owned 0.08% of UFP Industries worth $5,791,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its holdings in shares of UFP Industries by 13.4% during the third quarter. FMR LLC now owns 1,635,577 shares of the construction company's stock valued at $214,604,000 after purchasing an additional 193,891 shares during the last quarter. Franklin Resources Inc. grew its position in UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company's stock worth $169,675,000 after purchasing an additional 188,969 shares during the period. Assenagon Asset Management S.A. raised its stake in UFP Industries by 216.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 202,124 shares of the construction company's stock valued at $26,521,000 after buying an additional 138,215 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of UFP Industries by 22.7% during the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company's stock valued at $67,594,000 after buying an additional 112,518 shares during the period. Finally, Wasatch Advisors LP boosted its stake in shares of UFP Industries by 16.1% in the 3rd quarter. Wasatch Advisors LP now owns 590,712 shares of the construction company's stock worth $77,507,000 after buying an additional 81,950 shares during the last quarter. Institutional investors own 81.81% of the company's stock.

UFP Industries Stock Performance

Shares of UFPI stock traded down $0.25 during trading hours on Friday, reaching $116.76. 342,705 shares of the company traded hands, compared to its average volume of 316,548. The firm has a 50-day moving average price of $123.19 and a 200 day moving average price of $123.89. The company has a market cap of $7.09 billion, a P/E ratio of 16.06 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. UFP Industries, Inc. has a 12-month low of $107.25 and a 12-month high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. UFP Industries's revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts predict that UFP Industries, Inc. will post 6.88 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 1.13%. UFP Industries's payout ratio is 18.16%.

Wall Street Analyst Weigh In

A number of analysts recently commented on UFPI shares. StockNews.com upgraded UFP Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Wedbush reiterated an "outperform" rating and issued a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, UFP Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the completion of the transaction, the chief executive officer now owns 314,450 shares in the company, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William G. Currie sold 5,700 shares of the business's stock in a transaction dated Friday, December 13th. The stock was 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 owns 61,140 shares in the company, valued at approximately $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by insiders.

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.