Canada Pension Plan Investment Board purchased a new position in UFP Industries, Inc. (NASDAQ:UFPI) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 33,500 shares of the construction company’s stock, valued at approximately $1,861,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in UFP Industries by 81.1% during the first quarter. First Trust Advisors LP now owns 113,362 shares of the construction company’s stock valued at $3,388,000 after purchasing an additional 50,777 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of UFP Industries in the 1st quarter valued at about $140,000. Raymond James & Associates bought a new stake in shares of UFP Industries in the 3rd quarter valued at about $331,000. Allianz Asset Management GmbH grew its position in shares of UFP Industries by 0.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 108,440 shares of the construction company’s stock worth $6,128,000 after buying an additional 492 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of UFP Industries by 26.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,631 shares of the construction company’s stock worth $92,000 after acquiring an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.
In related news, CEO Matthew J. Missad sold 7,250 shares of the business’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $70.96, for a total value of $514,460.00. Following the completion of the transaction, the chief executive officer now directly owns 294,479 shares in the company, valued at approximately $20,896,229.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Missad sold 20,000 shares of the stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $67.61, for a total transaction of $1,352,200.00. Following the sale, the chief executive officer now directly owns 301,729 shares in the company, valued at $20,399,897.69. The disclosure for this sale can be found here. Insiders have sold a total of 68,772 shares of company stock worth $4,457,698 over the last ninety days. 3.03% of the stock is owned by insiders.
UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, February 24th. The construction company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.81 by $0.21. UFP Industries had a net margin of 4.66% and a return on equity of 16.77%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.20 billion. As a group, research analysts expect that UFP Industries, Inc. will post 3.8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 1st were given a dividend of $0.15 per share. This is an increase from UFP Industries’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 26th. UFP Industries’s dividend payout ratio (DPR) is currently 20.62%.
Several brokerages recently weighed in on UFPI. Wedbush restated a “neutral” rating on shares of UFP Industries in a research note on Thursday, February 25th. Stifel Nicolaus began coverage on shares of UFP Industries in a report on Tuesday, March 9th. They set a “buy” rating and a $75.00 price objective on the stock. Zacks Investment Research upgraded shares of UFP Industries from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research note on Tuesday, March 2nd. DA Davidson boosted their target price on shares of UFP Industries from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 22nd. Finally, BMO Capital Markets raised their price target on shares of UFP Industries from $57.00 to $66.00 in a report on Wednesday, March 3rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $66.67.
About UFP Industries
UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.
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