UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 889,553 shares of the construction company's stock after selling 40,478 shares during the period. Allspring Global Investments Holdings LLC owned 1.44% of UFP Industries worth $111,683,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UFPI. Kestra Advisory Services LLC increased its holdings in shares of UFP Industries by 1.1% in the third quarter. Kestra Advisory Services LLC now owns 9,805 shares of the construction company's stock worth $1,004,000 after purchasing an additional 103 shares during the period. Blue Trust Inc. increased its holdings in shares of UFP Industries by 25.6% in the fourth quarter. Blue Trust Inc. now owns 594 shares of the construction company's stock worth $75,000 after purchasing an additional 121 shares during the period. Arizona State Retirement System increased its holdings in shares of UFP Industries by 0.8% in the third quarter. Arizona State Retirement System now owns 17,680 shares of the construction company's stock worth $1,810,000 after purchasing an additional 134 shares during the period. Global Retirement Partners LLC increased its holdings in shares of UFP Industries by 46.2% in the fourth quarter. Global Retirement Partners LLC now owns 440 shares of the construction company's stock worth $51,000 after purchasing an additional 139 shares during the period. Finally, Advisor Partners II LLC increased its holdings in shares of UFP Industries by 3.3% in the fourth quarter. Advisor Partners II LLC now owns 4,597 shares of the construction company's stock worth $364,000 after purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 81.81% of the company's stock.

UFP Industries Stock Performance

Shares of UFPI stock traded up $0.51 during mid-day trading on Tuesday, reaching $119.64. 158,595 shares of the company's stock traded hands, compared to its average volume of 278,065. UFP Industries, Inc. has a 12 month low of $75.71 and a 12 month high of $128.65. The firm has a 50 day moving average price of $116.48 and a two-hundred day moving average price of $112.37. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.12 and a current ratio of 4.41. The firm has a market capitalization of $7.36 billion, a PE ratio of 14.84 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.68 by ($0.06). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The company's revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 EPS. On average, research analysts forecast that UFP Industries, Inc. will post 7.39 EPS for the current year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.33 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 1.10%. This is an increase from UFP Industries's previous quarterly dividend of $0.20. UFP Industries's dividend payout ratio is currently 16.38%.

Wall Street Analyst Weigh In

UFPI has been the topic of several research analyst reports. Stifel Nicolaus upped their price target on shares of UFP Industries from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Benchmark increased their target price on UFP Industries from $120.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Wedbush reissued a "neutral" rating and issued a $102.00 target price on shares of UFP Industries in a research note on Thursday, February 22nd. Finally, StockNews.com lowered shares of UFP Industries from a "strong-buy" rating to a "buy" rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, UFP Industries currently has an average rating of "Moderate Buy" and a consensus target price of $114.00.

Insider Buying and Selling

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the transaction, the chief executive officer now owns 363,328 shares of the company's stock, valued at approximately $41,437,558.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.58% of the stock is currently owned by insiders.

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.