PNC Financial Services Group Inc. Decreases Position in UFP Industries, Inc. (NASDAQ:UFPI)

PNC Financial Services Group Inc. reduced its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,443 shares of the construction company’s stock after selling 548 shares during the period. PNC Financial Services Group Inc.’s holdings in UFP Industries were worth $558,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UFPI. HighTower Advisors LLC lifted its position in shares of UFP Industries by 24.8% during the 3rd quarter. HighTower Advisors LLC now owns 3,675 shares of the construction company’s stock worth $378,000 after purchasing an additional 731 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of UFP Industries during the 3rd quarter worth $326,000. Invesco Ltd. lifted its position in shares of UFP Industries by 24.8% during the 3rd quarter. Invesco Ltd. now owns 381,171 shares of the construction company’s stock worth $39,032,000 after purchasing an additional 75,711 shares during the last quarter. Mariner LLC lifted its position in shares of UFP Industries by 6.2% during the 3rd quarter. Mariner LLC now owns 5,674 shares of the construction company’s stock worth $581,000 after purchasing an additional 331 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of UFP Industries by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 29,079 shares of the construction company’s stock worth $2,978,000 after purchasing an additional 1,982 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, insider David A. Tutas sold 3,038 shares of UFP Industries stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total value of $365,197.98. Following the transaction, the insider now directly owns 21,374 shares in the company, valued at $2,569,368.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Michael R. Cole sold 1,452 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $119.28, for a total transaction of $173,194.56. Following the transaction, the chief financial officer now directly owns 165,155 shares in the company, valued at $19,699,688.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Tutas sold 3,038 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $120.21, for a total transaction of $365,197.98. Following the transaction, the insider now owns 21,374 shares in the company, valued at $2,569,368.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,687 shares of company stock worth $3,831,653. 2.58% of the stock is owned by company insiders.

UFP Industries Trading Down 1.2 %

NASDAQ UFPI opened at $109.37 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 4.79. The firm has a market cap of $6.75 billion, a PE ratio of 13.60 and a beta of 1.45. UFP Industries, Inc. has a one year low of $90.62 and a one year high of $128.65. The firm’s fifty day moving average is $116.25 and its two-hundred day moving average is $117.16.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. UFP Industries’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 earnings per share. Analysts expect that UFP Industries, Inc. will post 7.53 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 1.21%. UFP Industries’s dividend payout ratio is presently 16.42%.

Wall Street Analyst Weigh In

Several brokerages recently commented on UFPI. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Benchmark cut their price target on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.50.

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.