Summit Global Investments Sells 7,561 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Summit Global Investments trimmed its position in UFP Industries, Inc. (NASDAQ:UFPI) by 26.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,235 shares of the construction company’s stock after selling 7,561 shares during the quarter. Summit Global Investments’ holdings in UFP Industries were worth $2,666,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of UFP Industries by 716.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock valued at $159,876,000 after purchasing an additional 1,370,105 shares during the period. Northern Trust Corp boosted its holdings in shares of UFP Industries by 0.9% during the third quarter. Northern Trust Corp now owns 1,111,025 shares of the construction company’s stock worth $113,769,000 after acquiring an additional 10,326 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of UFP Industries by 31.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 749,259 shares of the construction company’s stock valued at $76,724,000 after purchasing an additional 179,323 shares during the last quarter. AQR Capital Management LLC lifted its holdings in UFP Industries by 93.0% during the 3rd quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company’s stock worth $69,544,000 after purchasing an additional 327,220 shares during the last quarter. Finally, Invesco Ltd. increased its position in UFP Industries by 24.8% during the 3rd quarter. Invesco Ltd. now owns 381,171 shares of the construction company’s stock worth $39,032,000 after buying an additional 75,711 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Price Performance

UFPI stock traded up $1.16 during mid-day trading on Friday, hitting $116.65. 187,885 shares of the stock were exchanged, compared to its average volume of 282,995. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.12. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 14.36 and a beta of 1.47. The business has a fifty day moving average price of $115.80 and a 200 day moving average price of $113.68. UFP Industries, Inc. has a 12 month low of $77.47 and a 12 month high of $128.65.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $1.98 EPS. The business’s quarterly revenue was down 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 7.4 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, May 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.13%. UFP Industries’s dividend payout ratio (DPR) is currently 16.42%.

Insider Transactions at UFP Industries

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on UFPI shares. Wedbush restated a “neutral” rating and issued a $102.00 price target on shares of UFP Industries in a research note on Thursday, February 22nd. Benchmark cut their price target on UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus increased their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, UFP Industries has an average rating of “Moderate Buy” and an average target price of $113.20.

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.