UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Commerce Bank

Commerce Bank reduced its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,313 shares of the construction company’s stock after selling 189 shares during the quarter. Commerce Bank’s holdings in UFP Industries were worth $828,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in UFP Industries by 31.8% during the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after acquiring an additional 76 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of UFP Industries by 0.7% during the second quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock worth $1,630,000 after purchasing an additional 105 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of UFP Industries by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company’s stock valued at $866,000 after purchasing an additional 130 shares during the period. GAMMA Investing LLC grew its holdings in shares of UFP Industries by 25.8% in the third quarter. GAMMA Investing LLC now owns 644 shares of the construction company’s stock valued at $84,000 after purchasing an additional 132 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in UFP Industries by 300.0% during the 3rd 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 period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on UFPI. BMO Capital Markets raised their price target on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Benchmark boosted their target price on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus increased their price target on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have issued 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 $148.00.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.58% of the company’s stock.

UFP Industries Stock Up 4.5 %

UFP Industries stock opened at $139.02 on Tuesday. The stock’s fifty day moving average is $131.16 and its two-hundred day moving average is $122.63. The stock has a market cap of $8.44 billion, a PE ratio of 19.12 and a beta of 1.39. UFP Industries, Inc. has a 1-year low of $107.49 and a 1-year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25.

UFP Industries (NASDAQ:UFPI) last posted its earnings results 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 business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $2.10 EPS. On average, sell-side analysts expect that UFP Industries, Inc. will post 6.89 EPS for the current fiscal year.

UFP Industries Announces Dividend

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

UFP Industries 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.