Guggenheim Capital LLC lessened its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 31.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,590 shares of the construction company’s stock after selling 3,865 shares during the quarter. Guggenheim Capital LLC’s holdings in UFP Industries were worth $620,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ronald Blue Trust Inc. increased its stake in UFP Industries by 550.8% in the third quarter. Ronald Blue Trust Inc. now owns 423 shares of the construction company’s stock worth $29,000 after purchasing an additional 358 shares during the period. TCI Wealth Advisors Inc. increased its stake in UFP Industries by 87.5% in the third quarter. TCI Wealth Advisors Inc. now owns 497 shares of the construction company’s stock worth $36,000 after purchasing an additional 232 shares during the period. Point72 Hong Kong Ltd purchased a new stake in UFP Industries in the first quarter worth $62,000. Covestor Ltd increased its stake in UFP Industries by 21.1% in the first quarter. Covestor Ltd now owns 1,184 shares of the construction company’s stock worth $91,000 after purchasing an additional 206 shares during the period. Finally, IFP Advisors Inc increased its stake in UFP Industries by 78.9% in the third quarter. IFP Advisors Inc now owns 1,227 shares of the construction company’s stock worth $67,000 after purchasing an additional 541 shares during the period. Hedge funds and other institutional investors own 81.69% of the company’s stock.
UFP Industries Price Performance
UFPI opened at $79.15 on Friday. UFP Industries, Inc. has a 12-month low of $64.13 and a 12-month high of $99.40. The business’s fifty day simple moving average is $87.78 and its 200-day simple moving average is $80.35. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 7.20 and a beta of 1.50. The company has a current ratio of 3.70, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11.
UFP Industries (NASDAQ:UFPI – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The construction company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.37. UFP Industries had a return on equity of 28.83% and a net margin of 7.20%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the company earned $2.19 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that UFP Industries, Inc. will post 7.61 earnings per share for the current fiscal year.
UFP Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Tuesday, February 28th. UFP Industries’s payout ratio is currently 9.10%.
Analyst Ratings Changes
A number of analysts have weighed in on the company. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 22nd. Benchmark increased their price target on UFP Industries from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd.
Insider Buying and Selling at UFP Industries
In other UFP Industries news, Director William G. Currie sold 46,830 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $85.10, for a total value of $3,985,233.00. Following the completion of the sale, the director now directly owns 63,770 shares in the company, valued at $5,426,827. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director William G. Currie sold 46,830 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $85.10, for a total value of $3,985,233.00. Following the completion of the transaction, the director now directly owns 63,770 shares in the company, valued at $5,426,827. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael R. Cole sold 4,600 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $85.40, for a total value of $392,840.00. Following the completion of the transaction, the chief financial officer now owns 152,689 shares of the company’s stock, valued at $13,039,640.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,591 shares of company stock worth $6,316,675. 3.74% of the stock is owned by insiders.
UFP Industries Profile
UFP Industries, Inc manufactures and distributes wood and wood alternative products. It operates through the following segments: Retail, Industrial and Construction. The Retail segment comprises national home center retailers, retail-oriented regional lumberyards and contractor-oriented lumberyards. The Industrial segment manufacturers pallets, specialty crates, wooden boxes, and other containers used for packaging, shipping and material handling purposes.
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