Summit Global Investments Has $1.26 Million Position in UFP Industries, Inc. (NASDAQ:UFPI)

Summit Global Investments reduced its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 42.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,216 shares of the construction company’s stock after selling 8,264 shares during the period. Summit Global Investments’ holdings in UFP Industries were worth $1,263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of UFPI. CIBC Asset Management Inc acquired a new position in shares of UFP Industries in the third quarter valued at $236,000. Natixis Advisors LLC increased its holdings in shares of UFP Industries by 4.6% in the third quarter. Natixis Advisors LLC now owns 30,639 shares of the construction company’s stock valued at $4,020,000 after purchasing an additional 1,361 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of UFP Industries by 7.8% in the third quarter. Jennison Associates LLC now owns 10,054 shares of the construction company’s stock valued at $1,319,000 after purchasing an additional 727 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of UFP Industries in the third quarter valued at $1,404,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of UFP Industries by 5.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,760 shares of the construction company’s stock valued at $1,281,000 after purchasing an additional 521 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Trading Down 0.4 %

UFPI stock opened at $107.50 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The company’s 50-day simple moving average is $112.19 and its 200 day simple moving average is $121.26. UFP Industries, Inc. has a 52 week low of $102.35 and a 52 week high of $141.33. The company has a market capitalization of $6.54 billion, a PE ratio of 15.88 and a beta of 1.52.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.35 per share. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.30%. UFP Industries’s dividend payout ratio is currently 20.68%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UFPI. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark restated a “buy” rating and issued a $135.00 price target 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.