Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in UFP Industries, Inc. (NASDAQ:UFPI)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in UFP Industries, Inc. (NASDAQ:UFPI) by 8.6% during the 4th quarter, Holdings Channel reports. The fund owned 11,445 shares of the construction company’s stock after selling 1,075 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in UFP Industries were worth $1,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Advisory Services LLC boosted its holdings in shares of UFP Industries by 1.1% in the third quarter. Kestra Advisory Services LLC now owns 9,805 shares of the construction company’s stock valued at $1,004,000 after acquiring an additional 103 shares in the last quarter. Blue Trust Inc. boosted its holdings in UFP Industries by 25.6% during the fourth quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock worth $75,000 after buying an additional 121 shares in the last quarter. Arizona State Retirement System boosted its holdings in UFP Industries by 0.8% during the third quarter. Arizona State Retirement System now owns 17,680 shares of the construction company’s stock worth $1,810,000 after buying an additional 134 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in UFP Industries by 46.2% during the fourth quarter. Global Retirement Partners LLC now owns 440 shares of the construction company’s stock worth $51,000 after buying an additional 139 shares in the last quarter. Finally, Westover Capital Advisors LLC boosted its holdings in UFP Industries by 3.0% during the third quarter. Westover Capital Advisors LLC now owns 5,420 shares of the construction company’s stock worth $555,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $112.55 on Friday. The firm has a 50 day simple moving average of $115.90 and a 200-day simple moving average of $113.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12. The firm has a market cap of $6.93 billion, a PE ratio of 13.96 and a beta of 1.49. UFP Industries, Inc. has a 1-year low of $76.01 and a 1-year high of $128.65.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.06). The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 EPS. On average, equities analysts expect that UFP Industries, Inc. will post 7.4 EPS for the current year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.33 per share. This is a positive change from UFP Industries’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 1.17%. UFP Industries’s dividend payout ratio is 16.38%.

Insider Buying and Selling

In related news, CEO Matthew J. Missad sold 5,018 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the transaction, the chief executive officer now owns 363,328 shares of the company’s stock, valued at $41,437,558.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on UFPI. Benchmark boosted their price objective on shares of UFP Industries from $120.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Stifel Nicolaus lifted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Wedbush restated a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.00.

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.