D.A. Davidson & CO. Trims Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

D.A. Davidson & CO. lowered its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 76.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,559 shares of the construction company’s stock after selling 11,460 shares during the period. D.A. Davidson & CO.’s holdings in UFP Industries were worth $467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of UFP Industries by 300.0% during 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 in the last quarter. Headlands Technologies LLC purchased a new stake in UFP Industries in the 2nd quarter worth approximately $29,000. Signaturefd LLC lifted its stake in shares of 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 purchasing an additional 76 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of UFP Industries during the second quarter worth $56,000. Finally, GAMMA Investing LLC grew 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. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analyst Ratings Changes

UFPI has been the topic of several recent analyst reports. StockNews.com upgraded UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Wedbush reiterated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Insider Buying and Selling

In related 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 transaction, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.58% of the stock is owned by corporate insiders.

UFP Industries Price Performance

UFPI stock opened at $134.32 on Wednesday. The stock has a 50-day moving average price of $131.75 and a two-hundred day moving average price of $123.18. The company has a market cap of $8.16 billion, a PE ratio of 18.48 and a beta of 1.41. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12-month low of $107.49 and a 12-month high of $141.33.

UFP Industries (NASDAQ:UFPI) last posted its 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). The business 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%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company posted $2.10 EPS. As a group, research analysts predict that UFP Industries, Inc. will post 6.88 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 0.98%. UFP Industries’s payout ratio is 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.