The Manufacturers Life Insurance Company Sells 3,067 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

The Manufacturers Life Insurance Company trimmed its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,933 shares of the construction company’s stock after selling 3,067 shares during the period. The Manufacturers Life Insurance Company’s holdings in UFP Industries were worth $9,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in UFPI. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of UFP Industries by 0.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after buying an additional 28,601 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of UFP Industries by 3.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock worth $116,467,000 after acquiring an additional 32,555 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of UFP Industries by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock valued at $101,011,000 after purchasing an additional 4,006 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of UFP Industries by 22.7% during the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after purchasing an additional 112,518 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in UFP Industries by 1.0% during the third quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company’s stock worth $71,667,000 after purchasing an additional 5,515 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Down 0.5 %

Shares of UFP Industries stock opened at $134.32 on Wednesday. UFP Industries, Inc. has a 1 year low of $107.49 and a 1 year high of $141.33. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 18.48 and a beta of 1.41. The company has a 50-day moving average of $131.75 and a 200 day moving average of $123.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25.

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). The company 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 for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the company earned $2.10 EPS. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 6.88 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.33 per share. 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 presently 18.16%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CEO Matthew J. Missad sold 15,000 shares of the firm’s 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 approximately $41,202,383.50. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.58% of the stock is currently owned by insiders.

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.