HighTower Advisors LLC Acquires 582 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

HighTower Advisors LLC raised its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,884 shares of the construction company’s stock after buying an additional 582 shares during the quarter. HighTower Advisors LLC’s holdings in UFP Industries were worth $773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of 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 buying an additional 76 shares during the period. Meeder Asset Management Inc. boosted its position in UFP Industries by 0.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock worth $1,630,000 after acquiring an additional 105 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in UFP Industries by 1.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock worth $822,000 after acquiring an additional 113 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of UFP Industries by 25.8% during the 3rd quarter. GAMMA Investing LLC now owns 644 shares of the construction company’s stock worth $84,000 after acquiring an additional 132 shares in the last quarter. Finally, UMB Bank n.a. raised 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. Institutional investors and hedge funds own 81.81% of the company’s stock.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total transaction 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 $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William G. Currie sold 5,700 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the transaction, the director now directly owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.58% of the company’s stock.

UFP Industries Trading Down 5.3 %

NASDAQ UFPI opened at $115.61 on Thursday. UFP Industries, Inc. has a 12 month low of $107.49 and a 12 month high of $141.33. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $131.14 and a 200-day moving average of $123.96. The company has a market cap of $7.02 billion, a PE ratio of 15.90 and a beta of 1.41.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. The business’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 EPS. On average, equities research analysts anticipate that UFP Industries, Inc. will post 6.88 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Monday, December 2nd. UFP Industries’s payout ratio is currently 18.16%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on UFPI shares. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Company 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.