UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,378 shares of the construction company’s stock after selling 5,566 shares during the period. Corebridge Financial Inc. owned approximately 0.16% of UFP Industries worth $11,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of UFP Industries by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock valued at $82,847,000 after acquiring an additional 60,859 shares in the last quarter. Citigroup Inc. grew its position in UFP Industries by 50.7% during the 3rd quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock worth $15,670,000 after purchasing an additional 40,162 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in UFP Industries by 3.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock valued at $102,158,000 after purchasing an additional 31,381 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of UFP Industries by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock worth $101,011,000 after buying an additional 4,006 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of UFP Industries by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock worth $213,000 after buying an additional 97 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Trading Up 0.2 %

NASDAQ UFPI opened at $110.25 on Thursday. The company has a fifty day moving average of $111.92 and a 200 day moving average of $121.19. The company has a market capitalization of $6.71 billion, a PE ratio of 16.29 and a beta of 1.52. 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, Inc. has a 1 year low of $102.35 and a 1 year high of $141.33.

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 the consensus estimate of $1.24 by ($0.04). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. Research analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio is currently 20.68%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on UFPI shares. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark reissued a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, UFP Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

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.