Wedge Capital Management L L P NC Has $7.58 Million Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Wedge Capital Management L L P NC boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,410 shares of the construction company’s stock after acquiring an additional 4,667 shares during the period. Wedge Capital Management L L P NC owned 0.10% of UFP Industries worth $7,584,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new position in shares of UFP Industries in the 4th quarter valued at $27,000. Global Retirement Partners LLC grew its holdings in shares of UFP Industries by 46.2% in the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the construction company’s stock valued at $51,000 after buying an additional 139 shares during the period. Ronald Blue Trust Inc. grew its holdings in shares of UFP Industries by 64.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 473 shares of the construction company’s stock valued at $46,000 after buying an additional 185 shares during the period. Headlands Technologies LLC acquired a new position in shares of UFP Industries in the 3rd quarter valued at $59,000. Finally, Blue Trust Inc. grew its holdings in shares of UFP Industries by 25.6% in the 4th quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock valued at $75,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

Insider Activity

In other news, CEO Matthew J. Missad sold 5,018 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the sale, the chief executive officer now directly owns 363,328 shares of the company’s stock, valued at approximately $41,437,558.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on UFPI shares. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Wedbush reaffirmed a “neutral” rating and issued a $102.00 price objective on shares of UFP Industries in a research report on Thursday, February 22nd. Stifel Nicolaus boosted their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Benchmark boosted their price objective on shares of UFP Industries from $120.00 to $137.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

UFP Industries Trading Up 1.3 %

Shares of NASDAQ:UFPI opened at $114.02 on Wednesday. The company’s 50-day moving average price is $116.00 and its two-hundred day moving average price is $113.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12. UFP Industries, Inc. has a one year low of $76.01 and a one year high of $128.65. The stock has a market capitalization of $7.02 billion, a PE ratio of 14.15 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.06). UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm earned $2.10 earnings per share. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, equities analysts forecast that UFP Industries, Inc. will post 7.4 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from UFP Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 29th. UFP Industries’s dividend payout ratio is presently 16.38%.

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.