UFP Industries, Inc. (NASDAQ:UFPI) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. grew its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 42.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,463 shares of the construction company's stock after buying an additional 3,732 shares during the period. Pinebridge Investments L.P.'s holdings in UFP Industries were worth $1,404,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in UFPI. FMR LLC increased its position in UFP Industries by 7.1% during the 4th quarter. FMR LLC now owns 1,751,264 shares of the construction company's stock worth $197,280,000 after purchasing an additional 115,687 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of UFP Industries by 5.0% during the 4th quarter. Franklin Resources Inc. now owns 1,287,833 shares of the construction company's stock worth $145,074,000 after purchasing an additional 61,861 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock worth $102,158,000 after buying an additional 31,381 shares in the last quarter. First Trust Advisors LP raised its position in shares of UFP Industries by 39.3% in the fourth quarter. First Trust Advisors LP now owns 791,886 shares of the construction company's stock valued at $89,206,000 after buying an additional 223,522 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of UFP Industries by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 772,001 shares of the construction company's stock valued at $86,966,000 after buying an additional 2,160 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UFPI has been the subject of several analyst reports. StockNews.com downgraded UFP Industries from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Benchmark reiterated a "buy" rating and issued a $135.00 target price on shares of UFP Industries in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $143.00.

UFP Industries Trading Up 1.1 %

Shares of UFPI traded up $1.08 during mid-day trading on Thursday, reaching $99.93. The company had a trading volume of 639,392 shares, compared to its average volume of 329,618. UFP Industries, Inc. has a fifty-two week low of $96.99 and a fifty-two week high of $141.33. The firm has a fifty day simple moving average of $106.35 and a 200-day simple moving average of $117.09. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 14.76 and a beta of 1.45. 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 (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The construction company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.61 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. UFP Industries's revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.96 EPS. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently announced 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Monday, June 2nd. UFP Industries's dividend payout ratio (DPR) is presently 20.68%.

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.