UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 43.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,848 shares of the construction company's stock after selling 9,243 shares during the quarter. Millennium Management LLC's holdings in UFP Industries were worth $1,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc raised its holdings in UFP Industries by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company's stock valued at $213,000 after buying an additional 97 shares during the period. Robertson Stephens Wealth Management LLC increased its position in shares of UFP Industries by 5.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company's stock worth $216,000 after acquiring an additional 104 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of UFP Industries by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company's stock valued at $494,000 after acquiring an additional 104 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of UFP Industries by 6.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company's stock valued at $202,000 after acquiring an additional 105 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of UFP Industries by 4.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,286 shares of the construction company's stock valued at $370,000 after acquiring an additional 147 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on UFPI shares. Wall Street Zen downgraded UFP Industries from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Benchmark reaffirmed a "buy" rating and issued a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Stock Down 0.8%

Shares of UFPI stock traded down $0.78 on Friday, hitting $96.59. The stock had a trading volume of 84,091 shares, compared to its average volume of 351,905. The stock's 50 day moving average is $101.98 and its 200-day moving average is $111.39. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 14.27 and a beta of 1.54. UFP Industries, Inc. has a 52-week low of $94.68 and a 52-week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88.

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

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid 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 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.