First Trust Advisors LP Decreases Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

First Trust Advisors LP trimmed its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,668 shares of the construction company’s stock after selling 8,559 shares during the period. First Trust Advisors LP owned 0.41% of UFP Industries worth $18,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of UFP Industries by 3.0% in the third quarter. BlackRock Inc. now owns 10,532,771 shares of the construction company’s stock worth $760,045,000 after buying an additional 307,354 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of UFP Industries in the third quarter worth about $20,019,000. Renaissance Technologies LLC lifted its stake in shares of UFP Industries by 137.9% in the third quarter. Renaissance Technologies LLC now owns 435,909 shares of the construction company’s stock worth $31,455,000 after buying an additional 252,700 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of UFP Industries by 87.2% in the first quarter. Goldman Sachs Group Inc. now owns 369,322 shares of the construction company’s stock worth $28,497,000 after buying an additional 172,009 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of UFP Industries by 7.7% in the second quarter. Franklin Resources Inc. now owns 1,643,044 shares of the construction company’s stock worth $111,958,000 after buying an additional 118,083 shares in the last quarter. 81.69% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Price Performance

UFP Industries stock opened at $83.04 on Friday. UFP Industries, Inc. has a 12-month low of $64.13 and a 12-month high of $99.40. The stock has a market cap of $5.12 billion, a P/E ratio of 7.56 and a beta of 1.50. The company has a 50-day moving average price of $87.78 and a 200 day moving average price of $80.40. The company has a current ratio of 3.70, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11.

UFP Industries (NASDAQ:UFPI – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The construction company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.37. UFP Industries had a net margin of 7.20% and a return on equity of 28.83%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the business earned $2.19 earnings per share. UFP Industries’s revenue was down 5.1% compared to the same quarter last year. Sell-side analysts anticipate that UFP Industries, Inc. will post 7.61 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, February 28th. UFP Industries’s dividend payout ratio is presently 9.10%.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, CFO Michael R. Cole sold 4,600 shares of UFP Industries stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $85.40, for a total transaction of $392,840.00. Following the completion of the sale, the chief financial officer now directly owns 152,689 shares in the company, valued at $13,039,640.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director William G. Currie sold 46,830 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $85.10, for a total value of $3,985,233.00. Following the completion of the transaction, the director now owns 63,770 shares of the company’s stock, valued at $5,426,827. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael R. Cole sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $85.40, for a total transaction of $392,840.00. Following the completion of the transaction, the chief financial officer now directly owns 152,689 shares of the company’s stock, valued at approximately $13,039,640.60. The disclosure for this sale can be found here. Insiders sold a total of 64,591 shares of company stock worth $5,477,675 over the last three months. Insiders own 3.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on UFPI. Benchmark raised their price target on shares of UFP Industries from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 22nd.

UFP Industries Profile

(Get Rating)

UFP Industries, Inc manufactures and distributes wood and wood alternative products. It operates through the following segments: Retail, Industrial and Construction. The Retail segment comprises national home center retailers, retail-oriented regional lumberyards and contractor-oriented lumberyards. The Industrial segment manufacturers pallets, specialty crates, wooden boxes, and other containers used for packaging, shipping and material handling purposes.