Covestor Ltd Decreases Position in UFP Industries, Inc. (NASDAQ:UFPI)

Covestor Ltd lowered its position in UFP Industries, Inc. (NASDAQ:UFPI) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 736 shares of the construction company’s stock after selling 153 shares during the quarter. Covestor Ltd’s holdings in UFP Industries were worth $83,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in UFPI. FMR LLC increased its holdings in UFP Industries by 7.1% during the 4th quarter. FMR LLC now owns 1,751,264 shares of the construction company’s stock valued at $197,280,000 after acquiring an additional 115,687 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of UFP Industries by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock worth $200,553,000 after purchasing an additional 14,857 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of UFP Industries by 5.0% during the 4th quarter. Franklin Resources Inc. now owns 1,287,833 shares of the construction company’s stock worth $145,074,000 after purchasing an additional 61,861 shares in the last quarter. Allspring Global Investments Holdings LLC raised 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 worth $102,158,000 after purchasing an additional 31,381 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $86,966,000 after buying an additional 2,160 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Up 0.6 %

Shares of UFP Industries stock opened at $106.42 on Monday. UFP Industries, Inc. has a fifty-two week low of $99.42 and a fifty-two week high of $141.33. The business’s fifty day moving average is $108.87 and its two-hundred day moving average is $119.38. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.47 billion, a PE ratio of 15.72 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. Analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.32%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. UFP Industries’s payout ratio is presently 20.68%.

Wall Street Analyst Weigh In

Several research firms have weighed in on UFPI. Benchmark reissued a “buy” rating and set a $135.00 price target on shares of UFP Industries in a research 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently 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.