Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 2,602.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,100 shares of the construction company’s stock after purchasing an additional 130,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.22% of UFP Industries worth $7,505,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vantage Consulting Group Inc bought a new position in shares of UFP Industries in the fourth quarter worth about $34,000. Planned Solutions Inc. purchased a new stake in UFP Industries in the 4th quarter worth approximately $39,000. CI Investments Inc. bought a new stake in UFP Industries during the 4th quarter worth approximately $57,000. Point72 Hong Kong Ltd bought a new stake in UFP Industries during the 3rd quarter worth approximately $60,000. Finally, Advisors Asset Management Inc. boosted its position in shares of UFP Industries by 26.1% in the third quarter. Advisors Asset Management Inc. now owns 1,631 shares of the construction company’s stock worth $92,000 after purchasing an additional 338 shares during the period. 79.40% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Matthew J. Missad sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $67.61, for a total transaction of $1,352,200.00. Following the transaction, the chief executive officer now owns 301,729 shares of the company’s stock, valued at approximately $20,399,897.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Patrick M. Webster sold 30,000 shares of the firm’s stock in a transaction on Friday, March 5th. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the sale, the chief operating officer now owns 217,948 shares of the company’s stock, valued at $13,464,827.44. The disclosure for this sale can be found here. Insiders have sold a total of 68,772 shares of company stock worth $4,457,698 over the last 90 days. Corporate insiders own 3.03% of the company’s stock.
UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, February 24th. The construction company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.21. UFP Industries had a net margin of 4.66% and a return on equity of 16.77%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.20 billion. On average, sell-side analysts expect that UFP Industries, Inc. will post 3.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were issued a $0.15 dividend. The ex-dividend date was Friday, February 26th. This is an increase from UFP Industries’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.76%. UFP Industries’s payout ratio is 20.62%.
A number of research analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of UFP Industries from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 22nd. BMO Capital Markets increased their target price on UFP Industries from $57.00 to $66.00 in a research report on Wednesday, March 3rd. Stifel Nicolaus started coverage on UFP Industries in a report on Tuesday, March 9th. They issued a “buy” rating and a $75.00 price target on the stock. Zacks Investment Research upgraded shares of UFP Industries from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a research report on Tuesday, March 2nd. Finally, Wedbush reissued a “neutral” rating on shares of UFP Industries in a report on Thursday, February 25th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $66.67.
UFP Industries Profile
UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.
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