D.A. Davidson & CO. Trims Stake in UFP Industries, Inc. (NASDAQ:UFPI)

D.A. Davidson & CO. lessened its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 76.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,559 shares of the construction company’s stock after selling 11,460 shares during the quarter. D.A. Davidson & CO.’s holdings in UFP Industries were worth $467,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in UFPI. FMR LLC grew its position in shares of UFP Industries by 13.4% during the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock worth $214,604,000 after acquiring an additional 193,891 shares during the last quarter. Fisher Asset Management LLC grew its position in UFP Industries by 22.3% during the 3rd quarter. Fisher Asset Management LLC now owns 283,806 shares of the construction company’s stock worth $37,238,000 after purchasing an additional 51,809 shares during the last quarter. Cerity Partners LLC increased its stake in UFP Industries by 194.1% in the third quarter. Cerity Partners LLC now owns 6,332 shares of the construction company’s stock valued at $831,000 after purchasing an additional 4,179 shares during the period. Kingsview Wealth Management LLC raised its holdings in shares of UFP Industries by 1.8% in the third quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock valued at $822,000 after buying an additional 113 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of UFP Industries by 50.7% during the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock worth $15,670,000 after buying an additional 40,162 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Trading Down 0.5 %

NASDAQ:UFPI 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 company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The stock has a fifty day moving average price of $131.75 and a two-hundred day moving average price of $123.18. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 18.48 and a beta of 1.41.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data 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 return on equity of 14.45% and a net margin of 6.70%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm posted $2.10 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 0.98%. UFP Industries’s dividend payout ratio is presently 18.16%.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction dated 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 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 legal filing with the SEC, which can be accessed through this link. 2.58% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the company. StockNews.com raised UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday. Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.