FourThought Financial LLC Buys 549 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

FourThought Financial LLC lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 31.0% in the third quarter, HoldingsChannel reports. The fund owned 2,319 shares of the construction company’s stock after acquiring an additional 549 shares during the period. FourThought Financial LLC’s holdings in UFP Industries were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UFPI. Ronald Blue Trust Inc. raised its stake in UFP Industries by 550.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 423 shares of the construction company’s stock worth $29,000 after acquiring an additional 358 shares during the period. TCI Wealth Advisors Inc. raised its stake in UFP Industries by 87.5% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 497 shares of the construction company’s stock worth $36,000 after acquiring an additional 232 shares during the period. Point72 Hong Kong Ltd bought a new stake in UFP Industries during the 1st quarter worth approximately $62,000. IFP Advisors Inc raised its stake in UFP Industries by 78.9% during the 3rd quarter. IFP Advisors Inc now owns 1,227 shares of the construction company’s stock worth $67,000 after acquiring an additional 541 shares during the period. Finally, Covestor Ltd raised its stake in UFP Industries by 21.1% during the 1st quarter. Covestor Ltd now owns 1,184 shares of the construction company’s stock worth $91,000 after acquiring an additional 206 shares during the period. 81.69% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Trading Down 2.4 %

Shares of UFPI opened at $77.34 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.70 and a quick ratio of 2.11. UFP Industries, Inc. has a 1 year low of $64.13 and a 1 year high of $99.40. The company has a 50 day simple moving average of $87.67 and a two-hundred day simple moving average of $80.18. The firm has a market cap of $4.77 billion, a P/E ratio of 7.04 and a beta of 1.50.

UFP Industries (NASDAQ:UFPI – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The construction company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.37. UFP Industries had a net margin of 7.20% and a return on equity of 28.83%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the firm posted $2.19 EPS. The company’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts expect that UFP Industries, Inc. will post 7.61 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 28th. UFP Industries’s dividend payout ratio (DPR) is currently 9.10%.

Wall Street Analyst Weigh In

A number of research firms have commented on UFPI. Benchmark raised their target price on shares of UFP Industries from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. StockNews.com began coverage on shares of UFP Industries in a research note on Thursday. They set a “buy” rating on the stock.

Insider Buying and Selling at UFP Industries

In other news, CFO Michael R. Cole sold 4,600 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $85.40, for a total transaction of $392,840.00. Following the completion of the transaction, the chief financial officer now directly owns 152,689 shares in the company, valued at approximately $13,039,640.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Michael R. Cole sold 4,600 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $85.40, for a total transaction of $392,840.00. Following the completion of the transaction, the chief financial officer now directly owns 152,689 shares in the company, valued at approximately $13,039,640.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew J. Missad sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $79.03, for a total value of $790,300.00. Following the transaction, the chief executive officer now owns 370,545 shares of the company’s stock, valued at $29,284,171.35. The disclosure for this sale can be found here. Insiders sold a total of 84,591 shares of company stock valued at $7,106,975 in the last three months. 3.74% of the stock is currently owned by corporate insiders.

UFP Industries Company Profile

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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.