Fisher Asset Management LLC Sells 3,314 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Fisher Asset Management LLC lowered its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,174 shares of the construction company’s stock after selling 3,314 shares during the period. Fisher Asset Management LLC’s holdings in UFP Industries were worth $13,832,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kestra Advisory Services LLC raised its position in UFP Industries by 1.1% during the third quarter. Kestra Advisory Services LLC now owns 9,805 shares of the construction company’s stock worth $1,004,000 after acquiring an additional 103 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of UFP Industries by 25.6% in the 4th quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock valued at $75,000 after purchasing an additional 121 shares during the period. Arizona State Retirement System lifted its stake in UFP Industries by 0.8% in the 3rd quarter. Arizona State Retirement System now owns 17,680 shares of the construction company’s stock valued at $1,810,000 after purchasing an additional 134 shares during the last quarter. Global Retirement Partners LLC grew 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 purchasing an additional 139 shares during the period. Finally, Westover Capital Advisors LLC increased its position 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 during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analysts Set New Price Targets

UFPI has been the subject of several research analyst reports. Wedbush reiterated a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a research note on Thursday, February 22nd. Stifel Nicolaus lifted their price objective 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. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Finally, Benchmark cut their target price on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.20.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $116.65 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.37. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 14.51 and a beta of 1.47. The stock’s fifty day moving average price is $115.89 and its two-hundred day moving average price is $114.00. UFP Industries, Inc. has a one year low of $77.47 and a one year high of $128.65.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $1.98 earnings per share. UFP Industries’s quarterly revenue was down 10.1% on a year-over-year basis. On average, equities analysts forecast that UFP Industries, Inc. will post 7.37 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, May 31st. This represents a $1.32 annualized dividend and a dividend yield of 1.13%. UFP Industries’s dividend payout ratio is presently 16.42%.

Insider Activity

In related news, CEO Matthew J. Missad sold 5,018 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the sale, 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 available at this link. 2.58% of the stock is owned by company insiders.

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.