Metis Global Partners LLC Sells 293 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Metis Global Partners LLC reduced its position in UFP Industries, Inc. (NASDAQ:UFPI) by 11.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,285 shares of the construction company’s stock after selling 293 shares during the period. Metis Global Partners LLC’s holdings in UFP Industries were worth $257,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of UFP Industries by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock worth $82,847,000 after purchasing an additional 60,859 shares during the period. Citigroup Inc. lifted its holdings in shares of UFP Industries by 50.7% in the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock worth $15,670,000 after buying an additional 40,162 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of UFP Industries by 3.5% in 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. Charles Schwab Investment Management Inc. lifted 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 in the last quarter. Finally, Seizert Capital Partners LLC lifted its holdings in shares of UFP Industries by 85.5% in the third quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company’s stock worth $4,543,000 after buying an additional 15,958 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director William G. Currie sold 5,700 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $126.59, for a total value of $721,563.00. Following the sale, the director now owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.58% of the company’s stock.

Analysts Set New Price Targets

UFPI has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and issued a $135.00 target price on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating 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 stock. According to MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

UFP Industries Price Performance

UFP Industries stock opened at $107.29 on Friday. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 15.85 and a beta of 1.45. The firm’s fifty day moving average is $113.22 and its 200 day moving average is $122.42. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52-week low of $102.35 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results 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). The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. Sell-side analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.30%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio is currently 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.