Mirae Asset Global Investments Co. Ltd. Has $2.72 Million Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,284 shares of the construction company’s stock after acquiring an additional 1,890 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in UFP Industries were worth $2,717,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of UFPI. Victory Capital Management Inc. increased its holdings in shares of UFP Industries by 24.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,699,465 shares of the construction company’s stock valued at $136,384,000 after purchasing an additional 333,229 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of UFP Industries by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,818,720 shares of the construction company’s stock valued at $223,384,000 after purchasing an additional 101,530 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of UFP Industries by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 390,083 shares of the construction company’s stock valued at $30,914,000 after purchasing an additional 8,157 shares in the last quarter. Watchman Group Inc. increased its holdings in shares of UFP Industries by 0.9% in the fourth quarter. Watchman Group Inc. now owns 46,477 shares of the construction company’s stock valued at $3,683,000 after purchasing an additional 417 shares in the last quarter. Finally, Royal London Asset Management Ltd. acquired a new stake in shares of UFP Industries in the fourth quarter valued at approximately $137,000. Institutional investors and hedge funds own 81.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UFPI. DA Davidson raised their price target on shares of UFP Industries from $102.00 to $112.00 in a report on Wednesday, May 3rd. BMO Capital Markets raised their price target on shares of UFP Industries from $95.00 to $100.00 in a report on Tuesday, May 16th. Benchmark raised their price objective on shares of UFP Industries from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Stifel Nicolaus reduced their price objective on shares of UFP Industries from $102.00 to $100.00 in a research note on Wednesday, May 3rd. Finally, StockNews.com began coverage on shares of UFP Industries in a research note on Thursday, May 18th. They issued a “buy” rating on the stock.

Insider Transactions at UFP Industries

In other news, Director William G. Currie sold 46,830 shares of UFP Industries stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $85.10, for a total transaction of $3,985,233.00. Following the transaction, the director now directly owns 63,770 shares of the company’s stock, valued at $5,426,827. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director William G. Currie sold 46,830 shares of UFP Industries stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $85.10, for a total transaction of $3,985,233.00. Following the transaction, the director now directly owns 63,770 shares of the company’s stock, valued at $5,426,827. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Patrick M. Benton sold 13,161 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $83.55, for a total transaction of $1,099,601.55. Following the completion of the sale, the insider now directly owns 123,046 shares in the company, valued at $10,280,493.30. The disclosure for this sale can be found here. Insiders have sold a total of 84,991 shares of company stock valued at $7,132,135 over the last three months. 3.55% of the stock is currently owned by corporate insiders.

UFP Industries Price Performance

Shares of UFPI stock opened at $80.53 on Friday. UFP Industries, Inc. has a 52-week low of $64.13 and a 52-week high of $99.40. The stock has a market cap of $4.96 billion, a PE ratio of 8.08 and a beta of 1.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.46 and a current ratio of 4.27. The firm’s 50 day moving average price is $79.58 and its two-hundred day moving average price is $82.37.

UFP Industries (NASDAQ:UFPI – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The construction company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.33. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. UFP Industries had a net margin of 7.02% and a return on equity of 24.92%. The business’s quarterly revenue was down 26.8% compared to the same quarter last year. During the same period last year, the firm posted $3.00 earnings per share. As a group, analysts forecast that UFP Industries, Inc. will post 8.25 EPS for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. UFP Industries’s dividend payout ratio is 10.03%.

UFP Industries Profile

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UFP Industries, Inc engages in the supply of products primarily manufactured from wood, wood and non-wood composites, and other materials to retail, packaging, and construction markets. It operates through the following segments: Retail Solutions, Packaging, and Construction. The Retail Solutions segment sells treated lumber products, wood plastic composite, mineral based composite decking and related decking accessories, exterior sliding, pattern, trim, and facia products.