Pictet Asset Management Holding SA Reduces Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Pictet Asset Management Holding SA cut its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 420,776 shares of the construction company’s stock after selling 727 shares during the quarter. Pictet Asset Management Holding SA’s holdings in UFP Industries were worth $47,400,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of UFP Industries during the fourth quarter worth $83,149,000. Loomis Sayles & Co. L P raised its stake in UFP Industries by 0.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 272,349 shares of the construction company’s stock worth $30,680,000 after acquiring an additional 1,775 shares during the last quarter. JPMorgan Chase & Co. lifted its position in UFP Industries by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 698,684 shares of the construction company’s stock worth $78,707,000 after acquiring an additional 67,280 shares during the period. Penobscot Investment Management Company Inc. grew its stake in UFP Industries by 70.9% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,520 shares of the construction company’s stock valued at $509,000 after purchasing an additional 1,875 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of UFP Industries by 6.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on UFPI. Benchmark reiterated a “buy” rating and issued a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Stock Down 3.4 %

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

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 the consensus estimate of $1.24 by ($0.04). The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. As a group, sell-side analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.35 per share. The ex-dividend date 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 dividend yield of 1.32%. UFP Industries’s dividend payout ratio (DPR) is 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.