Amalgamated Bank Cuts Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Amalgamated Bank trimmed its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,411 shares of the construction company’s stock after selling 1,011 shares during the period. Amalgamated Bank’s holdings in UFP Industries were worth $4,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. SRS Capital Advisors Inc. grew its stake in UFP Industries by 218.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock valued at $36,000 after acquiring an additional 197 shares in the last quarter. Certuity LLC purchased a new position in shares of UFP Industries during the fourth quarter valued at about $281,000. Van ECK Associates Corp lifted its position in shares of UFP Industries by 26.4% in the fourth quarter. Van ECK Associates Corp now owns 17,906 shares of the construction company’s stock worth $2,248,000 after buying an additional 3,739 shares in the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of UFP Industries by 1.1% during the 4th quarter. Bahl & Gaynor Inc. now owns 51,185 shares of the construction company’s stock worth $6,426,000 after acquiring an additional 576 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of UFP Industries in the fourth quarter valued at $30,000. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on UFPI shares. Benchmark lowered their price target on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Wedbush reissued a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a research report on Thursday, February 22nd. Stifel Nicolaus raised their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.20.

Insider Activity at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of UFP Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the sale, the chief executive officer now owns 363,328 shares of the company’s stock, valued at approximately $41,437,558.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.58% of the stock is currently owned by corporate insiders.

UFP Industries Stock Down 1.0 %

Shares of NASDAQ:UFPI opened at $116.82 on Wednesday. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $116.09 and its 200 day moving average is $114.31. The stock has a market cap of $7.19 billion, a P/E ratio of 14.53 and a beta of 1.47. UFP Industries, Inc. has a 52-week low of $77.47 and a 52-week high of $128.65.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 EPS. Sell-side analysts predict that UFP Industries, Inc. will post 7.37 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.32 annualized dividend and a dividend yield of 1.13%. UFP Industries’s dividend payout ratio is presently 16.42%.

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.