Summit Global Investments Sells 8,264 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Summit Global Investments lowered its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 42.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,216 shares of the construction company’s stock after selling 8,264 shares during the quarter. Summit Global Investments’ holdings in UFP Industries were worth $1,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UFPI. Thrivent Financial for Lutherans lifted its holdings in shares of UFP Industries by 3,820.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company’s stock worth $63,212,000 after acquiring an additional 546,830 shares during the last quarter. Boston Partners increased its stake in shares of 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 buying an additional 337,463 shares during the period. Raymond James Financial Inc. acquired a new position in shares of UFP Industries in the fourth quarter valued at approximately $30,457,000. FMR LLC increased its stake in shares of UFP Industries by 13.4% in the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock valued at $214,604,000 after buying an additional 193,891 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of UFP Industries by 18.2% in the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after buying an additional 188,969 shares during the period. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on UFPI. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $107.50 on Friday. The company has a market capitalization of $6.54 billion, a PE ratio of 15.88 and a beta of 1.52. The company has a 50 day simple moving average of $112.19 and a two-hundred day simple moving average of $121.26. 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 $102.35 and a fifty-two week high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. Research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio is currently 20.68%.

UFP Industries 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.