Confluence Investment Management LLC Grows Stake in UFP Industries, Inc. $UFPI

Confluence Investment Management LLC increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 84.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,414 shares of the construction company’s stock after buying an additional 10,728 shares during the period. Confluence Investment Management LLC’s holdings in UFP Industries were worth $2,189,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. State of Wyoming increased its stake in UFP Industries by 8.4% in the 1st quarter. State of Wyoming now owns 1,294 shares of the construction company’s stock worth $139,000 after acquiring an additional 100 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of UFP Industries by 24.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock worth $52,000 after purchasing an additional 102 shares during the last quarter. Vista Finance LLC raised its stake in UFP Industries by 4.1% in the second quarter. Vista Finance LLC now owns 2,671 shares of the construction company’s stock valued at $265,000 after purchasing an additional 104 shares in the last quarter. Great Lakes Advisors LLC lifted its position in UFP Industries by 0.5% during the first quarter. Great Lakes Advisors LLC now owns 21,105 shares of the construction company’s stock valued at $2,259,000 after purchasing an additional 105 shares during the last quarter. Finally, F m Investments LLC grew its stake in UFP Industries by 0.5% in the 2nd quarter. F m Investments LLC now owns 22,459 shares of the construction company’s stock worth $2,232,000 after buying an additional 112 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UFPI. Stifel Nicolaus set a $98.00 price objective on shares of UFP Industries in a research report on Tuesday, December 2nd. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $112.00 in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, UFP Industries presently has a consensus rating of “Hold” and an average price target of $114.25.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $91.53 on Wednesday. The company has a quick ratio of 3.23, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.33 billion, a PE ratio of 16.92 and a beta of 1.49. The company’s fifty day moving average is $91.58 and its 200 day moving average is $96.67. UFP Industries, Inc. has a 52 week low of $87.11 and a 52 week high of $120.00.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.18%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $1.64 earnings per share. Research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, December 1st. UFP Industries’s payout ratio is 25.88%.

Insider Activity at UFP Industries

In related news, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the transaction, the chairman directly owned 310,533 shares of the company’s stock, valued at $28,649,774.58. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael G. Wooldridge sold 1,192 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total transaction of $111,368.56. Following the sale, the director owned 14,697 shares of the company’s stock, valued at $1,373,140.71. This represents a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.56% of the company’s stock.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.