Cresset Asset Management LLC Trims Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Cresset Asset Management LLC decreased its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 16.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,850 shares of the construction company’s stock after selling 3,869 shares during the period. Cresset Asset Management LLC’s holdings in UFP Industries were worth $2,236,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of UFP Industries in the fourth quarter worth about $83,149,000. Thrivent Financial for Lutherans raised its position in shares of UFP Industries by 3,820.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company’s stock worth $63,212,000 after buying an additional 546,830 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in UFP Industries by 39.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company’s stock valued at $174,241,000 after buying an additional 435,155 shares during the period. Boston Partners grew its position in UFP Industries by 100.8% during the fourth quarter. Boston Partners now owns 672,231 shares of the construction company’s stock worth $75,736,000 after buying an additional 337,463 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in UFP Industries in the 4th quarter worth about $30,457,000. Institutional investors own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on UFPI shares. Benchmark reiterated 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 cut 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $97.33 on Friday. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 14.38 and a beta of 1.54. The stock’s 50-day moving average is $105.24 and its 200 day moving average is $115.37. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 1-year low of $95.90 and a 1-year high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.27). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.44%. UFP Industries’s dividend payout ratio (DPR) is currently 22.91%.

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.