Millennium Management LLC Sells 9,243 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Millennium Management LLC reduced its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 43.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,848 shares of the construction company’s stock after selling 9,243 shares during the period. Millennium Management LLC’s holdings in UFP Industries were worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in UFPI. Norges Bank bought a new stake in shares of UFP Industries during the fourth quarter worth about $83,149,000. Thrivent Financial for Lutherans grew its holdings in shares of UFP Industries by 3,820.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company’s stock worth $63,212,000 after purchasing an additional 546,830 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of UFP Industries by 39.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company’s stock worth $174,241,000 after purchasing an additional 435,155 shares during the last quarter. Boston Partners boosted its holdings in UFP Industries by 100.8% in the fourth quarter. Boston Partners now owns 672,231 shares of the construction company’s stock valued at $75,736,000 after acquiring an additional 337,463 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in UFP Industries in the fourth quarter valued at approximately $30,457,000. 81.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on UFPI shares. Benchmark reiterated a “buy” rating and issued a $135.00 target price on shares of UFP Industries in a report on Wednesday, February 19th. Wall Street Zen cut 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 issued a buy rating to the company. According to data from MarketBeat, UFP Industries presently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Trading Up 2.0%

NASDAQ UFPI opened at $97.65 on Wednesday. The firm has a market capitalization of $5.90 billion, a P/E ratio of 14.42 and a beta of 1.54. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $102.36 and a 200 day simple moving average of $111.71. UFP Industries, Inc. has a 12 month low of $94.68 and a 12 month high of $141.33.

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

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 1.43%. 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.