Bank of America Corp DE Sells 11,616 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Bank of America Corp DE decreased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,690 shares of the construction company’s stock after selling 11,616 shares during the quarter. Bank of America Corp DE owned approximately 0.36% of UFP Industries worth $24,410,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its stake in shares of UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after purchasing an additional 505 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in UFP Industries by 357.8% in the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after buying an additional 415 shares during the period. Kapitalo Investimentos Ltda bought a new stake in UFP Industries during the fourth quarter valued at $61,000. Principal Securities Inc. grew its holdings in UFP Industries by 39.8% during the 4th 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. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in UFP Industries during the 4th quarter worth about $106,000. Institutional investors own 81.81% of the company’s stock.

Wall Street Analysts Forecast Growth

UFPI has been the subject of several recent analyst reports. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark restated a “buy” rating and set a $135.00 price target on shares of UFP Industries 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.00.

UFP Industries Stock Up 1.2%

UFPI stock opened at $102.59 on Monday. The stock’s 50 day simple moving average is $104.74 and its 200 day simple moving average is $114.33. The company has a market cap of $6.20 billion, a P/E ratio of 15.15 and a beta of 1.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. UFP Industries, Inc. has a fifty-two week low of $95.90 and a fifty-two week high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.27). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 1.36%. UFP Industries’s dividend payout ratio (DPR) is presently 22.91%.

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.