FourThought Financial Partners LLC Takes $259,000 Position in UFP Industries, Inc. (NASDAQ:UFPI)

FourThought Financial Partners LLC bought a new position in UFP Industries, Inc. (NASDAQ:UFPI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,298 shares of the construction company’s stock, valued at approximately $259,000.

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

Analyst Upgrades and Downgrades

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

UFP Industries Stock Performance

Shares of UFPI opened at $108.77 on Thursday. The business has a 50-day simple moving average of $113.99 and a two-hundred day simple moving average of $122.86. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52 week low of $105.57 and a 52 week high of $141.33. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 16.07 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) 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 firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. On average, analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.29%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date is Monday, March 3rd. UFP Industries’s dividend payout ratio (DPR) is presently 20.68%.

Insider Activity at UFP Industries

In other UFP Industries news, Director William G. Currie sold 5,700 shares of the 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 sale, the director now owns 61,140 shares in the company, valued at approximately $7,739,712.60. This represents a 8.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.58% of the stock is owned by corporate insiders.

UFP Industries 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.