UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P trimmed its position in UFP Industries, Inc. (NASDAQ:UFPI) by 0.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 42,099 shares of the construction company’s stock after selling 165 shares during the period. Martingale Asset Management L P’s holdings in UFP Industries were worth $4,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in UFPI. Norges Bank acquired a new position in shares of UFP Industries in the 4th quarter valued at $83,149,000. Thrivent Financial for Lutherans grew its position in UFP Industries by 3,820.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company’s stock worth $63,212,000 after purchasing an additional 546,830 shares during the period. Boston Partners grew its position in UFP Industries by 100.8% during the 4th quarter. Boston Partners now owns 672,231 shares of the construction company’s stock worth $75,736,000 after purchasing an additional 337,463 shares during the period. Raymond James Financial Inc. acquired a new stake in UFP Industries during the 4th quarter worth about $30,457,000. Finally, Franklin Resources Inc. grew its position in UFP Industries by 18.2% during 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. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on UFPI shares. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Trading Up 7.3 %

Shares of UFP Industries stock opened at $108.32 on Thursday. The firm has a market capitalization of $6.59 billion, a PE ratio of 16.00 and a beta of 1.45. UFP Industries, Inc. has a twelve month low of $99.42 and a twelve month high of $141.33. The firm’s 50-day moving average price is $109.25 and its 200 day moving average price is $119.79. 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 (NASDAQ:UFPI) last released its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. On average, sell-side analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio (DPR) is currently 20.68%.

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.