Moran Wealth Management LLC Has $7.39 Million Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Moran Wealth Management LLC reduced its position in UFP Industries, Inc. (NASDAQ:UFPI) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,589 shares of the construction company’s stock after selling 1,111 shares during the quarter. Moran Wealth Management LLC owned approximately 0.11% of UFP Industries worth $7,389,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of UFPI. Raymond James Financial Inc. bought a new stake in UFP Industries during the fourth quarter valued at $30,457,000. FMR LLC boosted its position in shares of UFP Industries by 13.4% during the 3rd quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock valued at $214,604,000 after purchasing an additional 193,891 shares in the last quarter. Franklin Resources Inc. grew its stake in UFP Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock worth $169,675,000 after purchasing an additional 188,969 shares during the period. Wasatch Advisors LP increased its holdings in UFP Industries by 16.1% in the third quarter. Wasatch Advisors LP now owns 590,712 shares of the construction company’s stock worth $77,507,000 after purchasing an additional 81,950 shares in the last quarter. Finally, Barclays PLC grew its position in shares of UFP Industries by 109.0% during the 3rd quarter. Barclays PLC now owns 135,996 shares of the construction company’s stock worth $17,844,000 after buying an additional 70,927 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Performance

NASDAQ UFPI opened at $108.38 on Tuesday. The company has a fifty day simple moving average of $113.02 and a 200 day simple moving average of $122.28. UFP Industries, Inc. has a 12-month low of $102.35 and a 12-month high of $141.33. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.57 billion, a P/E ratio of 16.01 and a beta of 1.52.

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

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.29%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio (DPR) is presently 20.68%.

Insider Activity at UFP Industries

In related news, Director William G. Currie sold 5,700 shares of UFP Industries 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 completion of the sale, the director now owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. This trade represents a 8.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

UFPI has been the topic of a number of research reports. Benchmark reiterated a “buy” rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, UFP Industries presently has a consensus rating of “Moderate Buy” and a consensus target price 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.