Wells Fargo & Company MN Sells 30,657 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Wells Fargo & Company MN decreased its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,841 shares of the construction company's stock after selling 30,657 shares during the quarter. Wells Fargo & Company MN owned approximately 0.63% of UFP Industries worth $43,352,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Quantitative Investments LLC purchased a new stake in UFP Industries in the fourth quarter worth $321,000. Huntington National Bank grew its stake in shares of UFP Industries by 19.3% during the 4th quarter. Huntington National Bank now owns 1,882 shares of the construction company's stock worth $212,000 after acquiring an additional 304 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in UFP Industries by 13.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,099 shares of the construction company's stock worth $1,250,000 after acquiring an additional 1,339 shares during the last quarter. Headlands Technologies LLC raised its stake in UFP Industries by 39.3% in the 4th quarter. Headlands Technologies LLC now owns 17,592 shares of the construction company's stock valued at $1,982,000 after acquiring an additional 4,966 shares during the period. Finally, Franklin Resources Inc. lifted its holdings 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 valued at $145,074,000 after purchasing an additional 61,861 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company's stock.

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UFP Industries Trading Down 0.3 %

UFPI traded down $0.37 on Tuesday, hitting $106.70. 72,413 shares of the company were exchanged, compared to its average volume of 321,129. 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 has a fifty day simple moving average of $108.67 and a two-hundred day simple moving average of $119.21. The stock has a market capitalization of $6.49 billion, a PE ratio of 15.76 and a beta of 1.45. UFP Industries, Inc. has a 12 month low of $99.42 and a 12 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 the consensus estimate of $1.24 by ($0.04). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. Sell-side analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 1.31%. The ex-dividend date was Monday, March 3rd. This is a boost from UFP Industries's previous quarterly dividend of $0.33. UFP Industries's dividend payout ratio (DPR) is presently 20.68%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UFPI shares. Benchmark reiterated a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a research note on Wednesday, February 19th. StockNews.com cut UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $143.00.

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.