Charles Schwab Investment Management Inc. Buys 4,006 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Charles Schwab Investment Management Inc. lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.5% in the third quarter, HoldingsChannel reports. The fund owned 769,841 shares of the construction company’s stock after acquiring an additional 4,006 shares during the period. Charles Schwab Investment Management Inc.’s holdings in UFP Industries were worth $101,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in UFPI. Assenagon Asset Management S.A. grew its stake in shares of UFP Industries by 216.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 202,124 shares of the construction company’s stock valued at $26,521,000 after acquiring an additional 138,215 shares during the period. AQR Capital Management LLC grew its stake in shares of UFP Industries by 22.7% during the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after acquiring an additional 112,518 shares during the period. Picton Mahoney Asset Management grew its stake in shares of UFP Industries by 103.3% during the 2nd quarter. Picton Mahoney Asset Management now owns 115,549 shares of the construction company’s stock valued at $12,941,000 after acquiring an additional 58,724 shares during the period. F M Investments LLC bought a new position in shares of UFP Industries during the 2nd quarter valued at approximately $6,028,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of UFP Industries by 289.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 56,966 shares of the construction company’s stock valued at $6,380,000 after acquiring an additional 42,341 shares during the period. 81.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction 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 in the company, valued at approximately $41,202,383.50. This represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Benchmark upped their price target on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wedbush restated an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research note on Monday, November 4th. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research note on Monday. Finally, BMO Capital Markets upped their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, UFP Industries currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Stock Down 1.1 %

NASDAQ UFPI opened at $137.53 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The company has a market capitalization of $8.35 billion, a P/E ratio of 18.92 and a beta of 1.39. UFP Industries, Inc. has a one year low of $107.49 and a one year high of $141.33. The stock has a 50 day moving average price of $131.16 and a 200-day moving average price of $122.63.

UFP Industries (NASDAQ:UFPI) last posted its 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). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.10 earnings per share. As a group, equities analysts predict that UFP Industries, Inc. will post 6.89 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.96%. UFP Industries’s dividend payout ratio is currently 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.