AIA Group Ltd Buys 593 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

AIA Group Ltd boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,169 shares of the construction company’s stock after acquiring an additional 593 shares during the quarter. AIA Group Ltd’s holdings in UFP Industries were worth $1,277,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in UFP Industries by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,378,757 shares of the construction company’s stock worth $532,450,000 after acquiring an additional 33,825 shares during the last quarter. State Street Corp grew its holdings in UFP Industries by 1.9% during the 2nd quarter. State Street Corp now owns 2,095,833 shares of the construction company’s stock worth $203,401,000 after acquiring an additional 39,896 shares during the last quarter. Victory Capital Management Inc. grew its holdings in UFP Industries by 25.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,714,394 shares of the construction company’s stock worth $135,866,000 after acquiring an additional 348,158 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in UFP Industries by 716.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock worth $159,876,000 after acquiring an additional 1,370,105 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in UFP Industries by 8.8% during the 1st quarter. Geode Capital Management LLC now owns 1,258,702 shares of the construction company’s stock worth $100,701,000 after acquiring an additional 102,125 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

Insider Transactions at UFP Industries

In other news, CEO Matthew J. Missad sold 5,018 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the completion of the sale, the chief executive officer now owns 363,328 shares in the company, valued at approximately $41,437,558.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.58% of the company’s stock.

UFP Industries Stock Performance

UFPI opened at $110.65 on Friday. The company has a current ratio of 4.41, a quick ratio of 3.12 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $116.32 and its two-hundred day moving average price is $112.81. UFP Industries, Inc. has a 1-year low of $76.01 and a 1-year high of $128.65. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 13.73 and a beta of 1.49.

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

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.33 dividend. This is a positive change from UFP Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.32 annualized dividend and a dividend yield of 1.19%. UFP Industries’s dividend payout ratio is presently 16.38%.

Analyst Ratings Changes

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

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.