UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 561,109 shares of the construction company’s stock after selling 9,262 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in UFP Industries were worth $44,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its position in UFP Industries by 683.3% during the 1st quarter. Global Retirement Partners LLC now owns 329 shares of the construction company’s stock worth $27,000 after acquiring an additional 287 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of UFP Industries in the 4th quarter valued at approximately $59,000. Point72 Hong Kong Ltd acquired a new stake in shares of UFP Industries in the 1st quarter valued at approximately $62,000. Belpointe Asset Management LLC acquired a new stake in shares of UFP Industries in the 4th quarter valued at approximately $73,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of UFP Industries in the 1st quarter valued at approximately $74,000. 79.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UFPI has been the subject of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $120.00 price target on shares of UFP Industries in a report on Monday, August 21st. BMO Capital Markets lifted their price objective on UFP Industries from $95.00 to $100.00 in a report on Tuesday, May 16th. Finally, StockNews.com initiated coverage on UFP Industries in a report on Thursday, August 17th. They set a “buy” rating for the company.

Insiders Place Their Bets

In other UFP Industries news, Director Bruce A. Merino sold 8,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $88.36, for a total transaction of $706,880.00. Following the completion of the sale, the director now directly owns 22,312 shares in the company, valued at $1,971,488.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Bruce A. Merino sold 8,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $88.36, for a total value of $706,880.00. Following the completion of the sale, the director now owns 22,312 shares of the company’s stock, valued at $1,971,488.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kuras Mary Tuuk sold 9,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $100.70, for a total value of $906,300.00. Following the completion of the sale, the director now directly owns 9,521 shares of the company’s stock, valued at approximately $958,764.70. The disclosure for this sale can be found here. 3.55% of the stock is currently owned by insiders.

UFP Industries Stock Down 0.9 %

Shares of NASDAQ:UFPI opened at $101.89 on Friday. The company has a quick ratio of 2.87, a current ratio of 4.34 and a debt-to-equity ratio of 0.10. UFP Industries, Inc. has a 52-week low of $66.17 and a 52-week high of $107.57. The stock’s fifty day simple moving average is $100.66 and its 200-day simple moving average is $88.82. The company has a market capitalization of $6.33 billion, a P/E ratio of 11.20 and a beta of 1.52.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Wednesday, August 2nd. The construction company reported $2.36 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.04). The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.29 billion. UFP Industries had a net margin of 7.12% and a return on equity of 21.75%. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 earnings per share. As a group, equities research analysts forecast that UFP Industries, Inc. will post 8.26 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 31st. This is a positive change from UFP Industries’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 1.18%. UFP Industries’s dividend payout ratio is currently 13.19%.

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.