Pictet Asset Management Holding SA Sells 727 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Pictet Asset Management Holding SA cut its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 420,776 shares of the construction company’s stock after selling 727 shares during the period. Pictet Asset Management Holding SA owned 0.69% of UFP Industries worth $47,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp boosted its position in shares of UFP Industries by 357.8% during the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after buying an additional 415 shares during the period. Smartleaf Asset Management LLC grew its position in UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after acquiring an additional 505 shares during the last quarter. Principal Securities Inc. increased 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. Kohmann Bosshard Financial Services LLC bought a new stake in shares of UFP Industries during the fourth quarter worth $106,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of UFP Industries during the third quarter valued at $140,000. 81.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

UFP Industries Trading Down 3.4 %

NASDAQ:UFPI opened at $106.31 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The firm has a 50-day simple moving average of $111.57 and a 200-day simple moving average of $121.17. UFP Industries, Inc. has a one year low of $102.35 and a one year high of $141.33. The firm has a market cap of $6.47 billion, a P/E ratio of 15.70 and a beta of 1.52.

UFP Industries (NASDAQ:UFPI) last posted 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). The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. Equities analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

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