Corebridge Financial Inc. Lowers Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Corebridge Financial Inc. lessened its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 5.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 98,378 shares of the construction company’s stock after selling 5,566 shares during the quarter. Corebridge Financial Inc.’s holdings in UFP Industries were worth $11,082,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Thrivent Financial for Lutherans increased its position in shares of UFP Industries by 3,820.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company’s stock valued at $63,212,000 after buying an additional 546,830 shares in the last quarter. Boston Partners grew its stake in UFP Industries by 100.8% in the 4th quarter. Boston Partners now owns 672,231 shares of the construction company’s stock valued at $75,736,000 after acquiring an additional 337,463 shares during the period. Raymond James Financial Inc. purchased a new stake in UFP Industries in the 4th quarter worth $30,457,000. FMR LLC raised its position in UFP Industries by 13.4% during the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock worth $214,604,000 after acquiring an additional 193,891 shares during the period. Finally, Franklin Resources Inc. lifted its holdings 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 valued at $169,675,000 after purchasing an additional 188,969 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $110.25 on Thursday. The firm has a 50-day simple moving average of $111.92 and a 200-day simple moving average of $121.19. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 16.29 and a beta of 1.52. 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 data on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. On average, equities analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The business 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 an increase 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 dividend on an annualized basis and a yield of 1.27%. UFP Industries’s dividend payout ratio (DPR) is presently 20.68%.

Analyst Upgrades and Downgrades

UFPI has been the subject of a number of research reports. StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and a consensus 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.