Brevan Howard Capital Management LP Sells 6,259 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Brevan Howard Capital Management LP lessened its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 73.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,294 shares of the construction company's stock after selling 6,259 shares during the quarter. Brevan Howard Capital Management LP's holdings in UFP Industries were worth $258,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings 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 valued at $17,844,000 after acquiring an additional 70,927 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of UFP Industries by 21.2% during the fourth quarter. Park Avenue Securities LLC now owns 2,085 shares of the construction company's stock valued at $235,000 after acquiring an additional 365 shares during the period. Argent Capital Management LLC boosted its holdings in shares of UFP Industries by 35.8% during the fourth quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company's stock valued at $1,386,000 after acquiring an additional 3,241 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of UFP Industries by 15.7% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,903 shares of the construction company's stock valued at $890,000 after acquiring an additional 1,074 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 688 shares during the period. Institutional investors and hedge funds own 81.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Benchmark reissued a "buy" rating and set a $135.00 price target on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com downgraded shares of UFP Industries from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.00.

UFP Industries Stock Performance

UFPI traded up $1.23 on Friday, hitting $102.59. The company had a trading volume of 550,440 shares, compared to its average volume of 342,942. The company's fifty day moving average price is $104.74 and its 200 day moving average price is $114.39. UFP Industries, Inc. has a 1-year low of $95.90 and a 1-year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 15.15 and a beta of 1.54.

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

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.36%. 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.