Corient Private Wealth LLC Reduces Position in UFP Industries, Inc. (NASDAQ:UFPI)

Corient Private Wealth LLC lessened its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,854 shares of the construction company’s stock after selling 1,455 shares during the quarter. Corient Private Wealth LLC’s holdings in UFP Industries were worth $1,335,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Intech Investment Management LLC purchased a new position in UFP Industries in the 3rd quarter valued at approximately $1,404,000. Massachusetts Financial Services Co. MA grew its position in shares of UFP Industries by 5.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,760 shares of the construction company’s stock valued at $1,281,000 after purchasing an additional 521 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of UFP Industries by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock valued at $101,011,000 after purchasing an additional 4,006 shares during the period. Raymond James Trust N.A. lifted its holdings in UFP Industries by 29.7% during the 3rd quarter. Raymond James Trust N.A. now owns 5,949 shares of the construction company’s stock worth $781,000 after purchasing an additional 1,362 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in UFP Industries by 50.7% in the 3rd quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock worth $15,670,000 after purchasing an additional 40,162 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

Shares of UFPI opened at $109.99 on Wednesday. UFP Industries, Inc. has a 12-month low of $102.35 and a 12-month high of $141.33. 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 company has a market cap of $6.69 billion, a PE ratio of 16.25 and a beta of 1.52. The stock has a 50-day moving average price of $112.07 and a 200-day moving average price of $121.27.

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

UFP Industries Increases Dividend

The company also recently declared 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 is an increase from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.27%. UFP Industries’s dividend payout ratio (DPR) is presently 20.68%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on UFPI shares. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. 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, UFP Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

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.