Kayne Anderson Rudnick Investment Management LLC Sells 80,126 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Kayne Anderson Rudnick Investment Management LLC lessened its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 2.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,182,658 shares of the construction company's stock after selling 80,126 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 5.24% of UFP Industries worth $358,526,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in UFPI. Smartleaf Asset Management LLC increased its position in UFP Industries by 1,683.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company's stock worth $60,000 after buying an additional 505 shares during the period. Jones Financial Companies Lllp grew its position in UFP Industries by 357.8% in the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company's stock valued at $60,000 after purchasing an additional 415 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of UFP Industries in the fourth quarter worth approximately $61,000. Principal Securities Inc. lifted its position in shares of UFP Industries by 39.8% during the 4th quarter. Principal Securities Inc. now owns 615 shares of the construction company's stock worth $69,000 after buying an additional 175 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in UFP Industries during the fourth quarter worth about $106,000. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Price Performance

Shares of NASDAQ:UFPI traded down $0.86 during midday trading on Friday, reaching $97.40. 101,802 shares of the company were exchanged, compared to its average volume of 347,697. 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 one year low of $95.90 and a one year high of $141.33. The business's fifty day moving average is $103.15 and its two-hundred day moving average is $112.56. The stock has a market cap of $5.88 billion, a PE ratio of 14.40 and a beta of 1.54.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its 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 company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the firm posted $1.96 EPS. UFP Industries's revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 1.44%. UFP Industries's dividend payout ratio is currently 22.91%.

Analysts Set New Price Targets

UFPI has been the topic of several research reports. Benchmark restated a "buy" rating and set a $135.00 price objective on shares of UFP Industries in a research report on Wednesday, February 19th. Wall Street Zen 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. Based on data from MarketBeat.com, UFP Industries has a consensus rating of "Moderate Buy" and an average price target 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.