Millennium Management LLC Sells 9,243 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Millennium Management LLC lowered its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 43.8% during the 4th quarter, according to its most recent disclosure 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CIBC Asset Management Inc increased its position in shares of UFP Industries by 5.4% during 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 grew its holdings in 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 purchasing an additional 104 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in UFP Industries by 2.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company's stock worth $494,000 after purchasing an additional 104 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in UFP Industries by 6.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company's stock worth $202,000 after purchasing an additional 105 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in UFP Industries by 4.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,286 shares of the construction company's stock worth $370,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 81.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark restated a "buy" rating and issued a $135.00 price objective 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Stock Down 0.8%

UFPI stock traded down $0.79 during midday trading on Friday, hitting $96.58. The company's stock had a trading volume of 254,312 shares, compared to its average volume of 353,122. The company has a market cap of $5.83 billion, a PE ratio of 14.27 and a beta of 1.49. UFP Industries, Inc. has a 12 month low of $94.68 and a 12 month high of $141.33. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average is $101.78 and its 200-day moving average is $111.17.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 6.23% and a return on equity of 13.24%. The business's revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted $1.96 earnings per share. On average, equities research analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 dividend payout ratio (DPR) is 22.91%.

About UFP Industries

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.