Bank of America Corp DE Sells 11,616 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Bank of America Corp DE lessened its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 216,690 shares of the construction company's stock after selling 11,616 shares during the period. Bank of America Corp DE owned approximately 0.36% of UFP Industries worth $24,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of UFP Industries in the 4th quarter worth approximately $83,149,000. Thrivent Financial for Lutherans raised its holdings in shares of UFP Industries by 3,820.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company's stock worth $63,212,000 after purchasing an additional 546,830 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of UFP Industries by 39.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company's stock worth $174,241,000 after purchasing an additional 435,155 shares during the period. Boston Partners raised its holdings in UFP Industries by 100.8% during the 4th quarter. Boston Partners now owns 672,231 shares of the construction company's stock valued at $75,736,000 after acquiring an additional 337,463 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in UFP Industries during the 4th quarter valued at $30,457,000. Hedge funds and other institutional investors own 81.81% of the company's stock.

UFP Industries Price Performance

Shares of UFPI traded down $1.34 during mid-day trading on Friday, reaching $96.35. 435,199 shares of the stock traded hands, compared to its average volume of 347,580. The firm has a fifty day moving average price of $104.02 and a 200 day moving average price of $113.44. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 14.23 and a beta of 1.54. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 1 year low of $95.90 and a 1 year high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released 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). The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.61 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 earnings per share. As a group, equities research analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given 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 yield of 1.45%. UFP Industries's payout ratio is 22.91%.

Analysts Set New Price Targets

UFPI has been the topic of a number of analyst reports. Benchmark reissued a "buy" rating and set a $135.00 target price on shares of UFP Industries in a report on Wednesday, February 19th. Wall Street Zen cut 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 given a buy rating to the company. According to MarketBeat, UFP Industries has a consensus rating of "Moderate Buy" and an average price target 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.