Watchman Group Inc. Has $4.39 Million Position in UFP Industries, Inc. (NASDAQ:UFPI)

Watchman Group Inc. trimmed its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,938 shares of the construction company’s stock after selling 514 shares during the quarter. UFP Industries accounts for 1.2% of Watchman Group Inc.’s portfolio, making the stock its 26th largest position. Watchman Group Inc.’s holdings in UFP Industries were worth $4,386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of UFP Industries in the 4th quarter valued at approximately $83,149,000. Loomis Sayles & Co. L P boosted its holdings in shares of UFP Industries by 0.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 272,349 shares of the construction company’s stock valued at $30,680,000 after buying an additional 1,775 shares during the period. JPMorgan Chase & Co. increased its position in shares of UFP Industries by 10.7% during the fourth quarter. JPMorgan Chase & Co. now owns 698,684 shares of the construction company’s stock worth $78,707,000 after acquiring an additional 67,280 shares in the last quarter. Penobscot Investment Management Company Inc. raised its holdings in shares of UFP Industries by 70.9% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,520 shares of the construction company’s stock worth $509,000 after acquiring an additional 1,875 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in UFP Industries by 6.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company’s stock valued at $202,000 after acquiring an additional 105 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $106.31 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The business has a 50-day moving average of $111.57 and a 200-day moving average of $121.12. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 15.70 and a beta of 1.52. UFP Industries, Inc. has a fifty-two week low of $102.35 and a fifty-two week high of $141.33.

UFP Industries (NASDAQ:UFPI) last posted its quarterly 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). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, sell-side analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.32%. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio (DPR) is currently 20.68%.

Analysts Set New Price Targets

Several analysts have issued reports on UFPI shares. Benchmark reissued a “buy” rating and issued a $135.00 price target on shares of UFP Industries in a research note on Wednesday, February 19th. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a 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, UFP Industries has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Company 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.