Nuveen Asset Management LLC Sells 30,384 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Nuveen Asset Management LLC cut its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,370 shares of the construction company's stock after selling 30,384 shares during the period. Nuveen Asset Management LLC owned about 0.28% of UFP Industries worth $19,305,000 at the end of the most recent reporting period.

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

UFP Industries Stock Up 0.4%

Shares of UFP Industries stock traded up $0.38 on Thursday, reaching $97.79. 42,707 shares of the company were exchanged, compared to its average volume of 347,306. 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 company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 14.45 and a beta of 1.54. UFP Industries, Inc. has a one year low of $95.90 and a one year high of $141.33. The company has a 50-day moving average of $103.42 and a 200 day moving average of $112.83.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings results 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). 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 during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company posted $1.96 EPS. The firm's revenue was down 2.7% on a year-over-year basis. On average, equities research analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently disclosed 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. This represents a $1.40 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, June 2nd. UFP Industries's payout ratio is 22.91%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on UFPI. Benchmark reiterated a "buy" rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. Wall Street Zen cut UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, UFP Industries has an average rating of "Moderate Buy" and an average target price of $143.00.

UFP Industries 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.