NewEdge Wealth LLC Sells 4,268 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

NewEdge Wealth LLC lowered its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 15.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,028 shares of the construction company’s stock after selling 4,268 shares during the period. NewEdge Wealth LLC’s holdings in UFP Industries were worth $2,707,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. CIBC Asset Management Inc increased its stake in UFP Industries by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock valued at $213,000 after purchasing an additional 97 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its stake in UFP Industries by 5.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company’s stock valued at $216,000 after purchasing an additional 104 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in UFP Industries by 1.8% in the third quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock valued at $822,000 after purchasing an additional 113 shares in the last quarter. Highland Capital Management LLC increased its stake in UFP Industries by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 2,222 shares of the construction company’s stock valued at $250,000 after purchasing an additional 138 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake in UFP Industries by 2.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 6,809 shares of the construction company’s stock valued at $767,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Insider Buying and Selling

In related news, Director William G. Currie sold 5,700 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the transaction, the director now directly owns 61,140 shares in the company, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research note on Monday, November 4th. Benchmark reiterated a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Stock Up 0.3 %

Shares of NASDAQ UFPI opened at $107.00 on Friday. The stock has a market capitalization of $6.50 billion, a P/E ratio of 15.81 and a beta of 1.45. The company has a 50-day moving average price of $113.85 and a 200-day moving average price of $122.75. UFP Industries, Inc. has a 1 year low of $105.29 and a 1 year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. On average, equities research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.31%. UFP Industries’s payout ratio is 20.68%.

UFP Industries Company 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.