Los Angeles Capital Management LLC Decreases Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Los Angeles Capital Management LLC lowered its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 61.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,813 shares of the construction company’s stock after selling 42,399 shares during the quarter. Los Angeles Capital Management LLC’s holdings in UFP Industries were worth $3,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of UFP Industries by 716.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock valued at $159,876,000 after buying an additional 1,370,105 shares in the last quarter. AQR Capital Management LLC grew its holdings in UFP Industries by 93.0% in the third quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company’s stock worth $69,544,000 after purchasing an additional 327,220 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in UFP Industries by 31.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 749,259 shares of the construction company’s stock worth $76,724,000 after purchasing an additional 179,323 shares during the last quarter. Raymond James & Associates increased its position in shares of UFP Industries by 133.2% during the fourth quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock worth $23,623,000 after purchasing an additional 107,477 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of UFP Industries by 24.8% during the 3rd quarter. Invesco Ltd. now owns 381,171 shares of the construction company’s stock valued at $39,032,000 after purchasing an additional 75,711 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Insider Buying and Selling at UFP Industries

In other news, CEO Matthew J. Missad sold 5,018 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the transaction, the chief executive officer now owns 363,328 shares in the company, valued at approximately $41,437,558.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on UFPI. Wedbush restated a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a research note on Thursday, February 22nd. Stifel Nicolaus upped their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Benchmark reduced their target price on UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries currently has an average rating of “Moderate Buy” and a consensus target price of $113.20.

UFP Industries Stock Up 1.0 %

UFP Industries stock opened at $116.65 on Monday. The business’s 50-day moving average price is $115.89 and its 200 day moving average price is $114.00. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 14.51 and a beta of 1.47. UFP Industries, Inc. has a 52 week low of $77.47 and a 52 week high of $128.65.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 EPS. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 7.37 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.32 dividend on an annualized basis and a yield of 1.13%. UFP Industries’s dividend payout ratio is currently 16.42%.

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.