FourThought Financial Partners LLC Takes Position in UFP Industries, Inc. (NASDAQ:UFPI)

FourThought Financial Partners LLC purchased a new position in UFP Industries, Inc. (NASDAQ:UFPI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,298 shares of the construction company’s stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in shares of UFP Industries by 31.8% in the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after acquiring an additional 76 shares in the last quarter. Principal Securities Inc. grew its stake in UFP Industries by 39.8% in the fourth quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock worth $69,000 after purchasing an additional 175 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in UFP Industries in the third quarter worth $94,000. Millburn Ridgefield Corp bought a new position in UFP Industries in the third quarter worth $140,000. Finally, Blue Trust Inc. lifted its position in UFP Industries by 62.1% during the fourth quarter. Blue Trust Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after buying an additional 688 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Insider Activity at UFP Industries

In other news, Director William G. Currie sold 5,700 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on UFPI shares. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark restated a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. Finally, Wedbush reiterated an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

UFP Industries Price Performance

UFPI opened at $108.77 on Thursday. The firm has a market cap of $6.61 billion, a PE ratio of 16.07 and a beta of 1.45. The stock has a 50-day moving average price of $113.99 and a 200-day moving average price of $122.86. UFP Industries, Inc. has a 1 year low of $105.57 and a 1 year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data 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). The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. 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 disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.35 dividend. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, March 3rd. UFP Industries’s payout ratio is presently 20.68%.

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.