UFP Industries, Inc. (NASDAQ:UFPI) Position Boosted by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 29.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,949 shares of the construction company’s stock after purchasing an additional 1,362 shares during the quarter. Raymond James Trust N.A.’s holdings in UFP Industries were worth $781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in UFPI. UMB Bank n.a. lifted its position in shares of UFP Industries by 300.0% in the third quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after buying an additional 144 shares during the last quarter. Headlands Technologies LLC acquired a new stake in UFP Industries in the 2nd quarter worth approximately $29,000. Signaturefd LLC boosted its position in UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after purchasing an additional 76 shares during the period. Triad Wealth Partners LLC acquired a new position in UFP Industries during the second quarter valued at approximately $56,000. Finally, GAMMA Investing LLC raised its position in shares of UFP Industries by 84.2% in the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after purchasing an additional 234 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. This represents a 4.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.58% of the company’s stock.

Analysts Set New Price Targets

UFPI has been the subject of several recent analyst reports. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research report on Monday, November 4th. BMO Capital Markets lifted their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus increased their target price on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Benchmark lifted their price target on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and an average target price of $148.00.

UFP Industries Stock Up 4.5 %

Shares of UFPI opened at $139.02 on Tuesday. UFP Industries, Inc. has a 52 week low of $107.49 and a 52 week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The firm has a market capitalization of $8.44 billion, a P/E ratio of 19.12 and a beta of 1.39. The company has a 50-day simple moving average of $131.16 and a 200-day simple moving average of $122.63.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.25). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. UFP Industries’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.10 EPS. On average, equities research analysts expect that UFP Industries, Inc. will post 6.89 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

About UFP Industries

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.