UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co cut its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,747 shares of the construction company’s stock after selling 1,786 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.07% of UFP Industries worth $4,925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in UFP Industries by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock valued at $82,847,000 after purchasing an additional 60,859 shares during the period. Allspring Global Investments Holdings LLC raised its position in UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock valued at $102,158,000 after buying an additional 31,381 shares during the period. CIBC Asset Management Inc raised its position in UFP Industries by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock valued at $213,000 after buying an additional 97 shares during the period. Franklin Resources Inc. lifted its stake in UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock worth $169,675,000 after acquiring an additional 188,969 shares in the last quarter. Finally, Argent Capital Management LLC boosted its position in UFP Industries by 35.8% during the 4th quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company’s stock worth $1,386,000 after acquiring an additional 3,241 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UFPI. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of UFP Industries 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 stock. Based on data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Trading Up 1.6 %

Shares of NASDAQ UFPI opened at $107.97 on Friday. The business has a 50 day simple moving average of $107.02 and a 200 day simple moving average of $117.99. UFP Industries, Inc. has a 52 week low of $99.42 and a 52 week high of $141.33. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 15.95 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. On average, research analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.30%. UFP Industries’s dividend payout ratio 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.