Brevan Howard Capital Management LP Trims Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Brevan Howard Capital Management LP decreased its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 73.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,294 shares of the construction company's stock after selling 6,259 shares during the period. Brevan Howard Capital Management LP's holdings in UFP Industries were worth $258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in UFPI. Barclays PLC raised its stake in shares of UFP Industries by 109.0% during the third quarter. Barclays PLC now owns 135,996 shares of the construction company's stock worth $17,844,000 after acquiring an additional 70,927 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of UFP Industries by 21.2% during the 4th quarter. Park Avenue Securities LLC now owns 2,085 shares of the construction company's stock valued at $235,000 after purchasing an additional 365 shares during the last quarter. Argent Capital Management LLC raised its position in UFP Industries by 35.8% in the 4th quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company's stock worth $1,386,000 after purchasing an additional 3,241 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in UFP Industries by 15.7% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,903 shares of the construction company's stock worth $890,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in UFP Industries by 62.1% during the fourth quarter. Blue Trust Inc. now owns 1,796 shares of the construction company's stock valued at $202,000 after buying an additional 688 shares during the period. Hedge funds and other institutional investors own 81.81% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on UFPI. Benchmark reiterated a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com cut UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $143.00.

UFP Industries Trading Up 0.8%

NASDAQ:UFPI traded up $0.77 during mid-day trading on Thursday, reaching $101.36. 367,966 shares of the company's stock traded hands, compared to its average volume of 340,967. The company has a 50 day moving average price of $104.94 and a 200-day moving average price of $114.79. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 14.97 and a beta of 1.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. UFP Industries, Inc. has a 12-month low of $95.90 and a 12-month high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. UFP Industries's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 earnings per share. On average, sell-side analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 1.38%. UFP Industries's dividend payout ratio (DPR) is presently 22.91%.

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.