WCM Investment Management LLC Sells 24,533 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

WCM Investment Management LLC lowered its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,346 shares of the construction company's stock after selling 24,533 shares during the period. WCM Investment Management LLC owned 0.20% of UFP Industries worth $15,555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new position in UFP Industries in the fourth quarter worth approximately $27,000. Advisors Asset Management Inc. bought a new position in shares of UFP Industries in the third quarter valued at approximately $28,000. Global Retirement Partners LLC lifted 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 valued at $51,000 after purchasing an additional 139 shares in the last quarter. Ronald Blue Trust Inc. lifted its holdings in shares of UFP Industries by 64.2% in the third quarter. Ronald Blue Trust Inc. now owns 473 shares of the construction company's stock valued at $46,000 after purchasing an additional 185 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of UFP Industries in the third quarter valued at approximately $59,000. Institutional investors own 81.81% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UFPI. StockNews.com lowered UFP Industries from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 4th. Stifel Nicolaus raised their target price on UFP Industries from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. Benchmark increased their price target on UFP Industries from $120.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, February 21st. Finally, Wedbush reaffirmed a "neutral" rating and set a $102.00 price target on shares of UFP Industries in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $114.00.

UFP Industries Stock Performance

Shares of UFPI traded down $1.26 on Friday, reaching $115.67. 216,219 shares of the company's stock traded hands, compared to its average volume of 286,897. The company has a current ratio of 4.41, a quick ratio of 3.12 and a debt-to-equity ratio of 0.08. The stock's 50 day simple moving average is $116.53 and its two-hundred day simple moving average is $112.67. UFP Industries, Inc. has a 52-week low of $76.01 and a 52-week high of $128.65. The stock has a market cap of $7.12 billion, a PE ratio of 14.35 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results 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). UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The firm had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the business earned $2.10 earnings per share. The business's quarterly revenue was down 20.3% compared to the same quarter last year. On average, analysts forecast that UFP Industries, Inc. will post 7.39 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.33 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 1.14%. This is an increase from UFP Industries's previous quarterly dividend of $0.20. UFP Industries's dividend payout ratio (DPR) is currently 16.38%.

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.