Kingsview Wealth Management LLC Raises Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Kingsview Wealth Management LLC lifted its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,268 shares of the construction company’s stock after buying an additional 113 shares during the period. Kingsview Wealth Management LLC’s holdings in UFP Industries were worth $822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UFPI. UMB Bank n.a. boosted its stake in 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 acquiring an additional 144 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of UFP Industries in the 2nd quarter valued at about $29,000. Signaturefd LLC boosted its position in shares of UFP Industries by 31.8% in the 3rd 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 period. Triad Wealth Partners LLC purchased a new position in UFP Industries during the 2nd quarter worth approximately $56,000. Finally, GAMMA Investing LLC increased its position in UFP Industries by 84.2% during the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after buying an additional 234 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 314,450 shares in the company, valued at approximately $41,202,383.50. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

UFPI has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Benchmark raised their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets upped their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a report on Monday. Finally, Wedbush restated an “outperform” rating and issued 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 data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Trading Down 1.7 %

NASDAQ:UFPI opened at $135.26 on Thursday. The company has a market capitalization of $8.21 billion, a PE ratio of 18.61 and a beta of 1.39. UFP Industries, Inc. has a 52-week low of $107.49 and a 52-week high of $141.33. The stock has a fifty day simple moving average of $131.39 and a 200-day simple moving average of $122.77. 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 (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share 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 business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business earned $2.10 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts expect that UFP Industries, Inc. will post 6.89 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.98%. UFP Industries’s dividend payout ratio (DPR) is 18.16%.

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.