UFP Industries, Inc. (NASDAQ:UFPI) Shares Acquired by Citigroup Inc.

Citigroup Inc. raised its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 50.7% in the third quarter, Holdings Channel.com reports. The fund owned 119,426 shares of the construction company’s stock after acquiring an additional 40,162 shares during the quarter. Citigroup Inc.’s holdings in UFP Industries were worth $15,670,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. UMB Bank n.a. increased its holdings 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 valued at $25,000 after purchasing an additional 144 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of UFP Industries in the second quarter valued at approximately $29,000. Signaturefd LLC increased its holdings in shares of UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after purchasing an additional 76 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of UFP Industries in the second quarter valued at approximately $56,000. Finally, GAMMA Investing LLC increased its holdings 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 last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ UFPI opened at $135.26 on Thursday. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52-week low of $107.49 and a 52-week high of $141.33. The business’s 50-day moving average price is $131.39 and its 200 day moving average price is $122.77. The firm has a market cap of $8.21 billion, a P/E ratio of 18.61 and a beta of 1.39.

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

UFP Industries Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio is presently 18.16%.

Insider Buying and Selling at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.