Victory Capital Management Inc. Sells 355,273 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Victory Capital Management Inc. reduced its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 22.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,230,057 shares of the construction company’s stock after selling 355,273 shares during the quarter. Victory Capital Management Inc.’s holdings in UFP Industries were worth $154,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes 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 position in UFP Industries by 25.6% during the fourth quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock worth $75,000 after acquiring an additional 121 shares in the last quarter. Arizona State Retirement System raised its position in UFP Industries by 0.8% during the third quarter. Arizona State Retirement System now owns 17,680 shares of the construction company’s stock worth $1,810,000 after acquiring an additional 134 shares in the last quarter. Global Retirement Partners LLC raised its position 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 acquiring an additional 139 shares in the last quarter. Finally, Westover Capital Advisors LLC raised 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 acquiring an additional 160 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

UFP Industries Price Performance

Shares of UFPI opened at $113.00 on Thursday. The firm has a market capitalization of $6.95 billion, a PE ratio of 14.05 and a beta of 1.47. The company’s 50-day moving average is $115.71 and its 200-day moving average is $113.67. UFP Industries, Inc. has a fifty-two week low of $76.89 and a fifty-two week high of $128.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.12.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned $1.98 earnings per share. The company’s revenue was down 10.1% on a year-over-year basis. Equities analysts forecast that UFP Industries, Inc. will post 7.4 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.33 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.32 annualized dividend and a dividend yield of 1.17%. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 5,018 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the transaction, the chief executive officer now directly owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus upped 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. Wedbush reissued a “neutral” rating and issued a $102.00 price objective on shares of UFP Industries in a research report on Thursday, February 22nd. Benchmark dropped their price objective on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.20.

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.