Legacy Wealth Asset Management LLC Sells 1,334 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Legacy Wealth Asset Management LLC decreased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 26.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,789 shares of the construction company’s stock after selling 1,334 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in UFP Industries were worth $406,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of UFPI. Barclays PLC raised its position in UFP Industries by 109.0% in the 3rd quarter. Barclays PLC now owns 135,996 shares of the construction company’s stock valued at $17,844,000 after purchasing an additional 70,927 shares during the last quarter. Blue Trust Inc. raised its position in UFP Industries by 62.1% in the 4th quarter. Blue Trust Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 688 shares during the last quarter. Copeland Capital Management LLC raised its position in shares of UFP Industries by 0.3% during the fourth quarter. Copeland Capital Management LLC now owns 548,104 shares of the construction company’s stock worth $61,744,000 after acquiring an additional 1,907 shares during the last quarter. Greenleaf Trust bought a new stake in shares of UFP Industries during the fourth quarter worth $424,000. Finally, Meritage Portfolio Management raised its position in shares of UFP Industries by 12.4% during the fourth quarter. Meritage Portfolio Management now owns 4,435 shares of the construction company’s stock worth $500,000 after acquiring an additional 489 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

UFPI has been the subject of a number of recent research reports. Wall Street Zen downgraded UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark restated a “buy” rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Stock Down 0.7%

Shares of UFP Industries stock opened at $97.57 on Monday. UFP Industries, Inc. has a 12 month low of $95.90 and a 12 month high of $141.33. The business has a fifty day simple moving average of $102.90 and a 200 day simple moving average of $112.04. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.89 billion, a PE ratio of 14.41 and a beta of 1.54.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Monday, April 28th. The construction company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.27). The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. UFP Industries’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 earnings per share. Research analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 1.43%. UFP Industries’s payout ratio is currently 22.91%.

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.