Bridgewater Associates LP Lowers Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Bridgewater Associates LP reduced its position in UFP Industries, Inc. (NASDAQ:UFPI) by 88.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,338 shares of the construction company’s stock after selling 18,094 shares during the quarter. Bridgewater Associates LP’s holdings in UFP Industries were worth $307,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP boosted its holdings in UFP Industries by 44.5% in the 3rd quarter. Quantbot Technologies LP now owns 7,061 shares of the construction company’s stock valued at $926,000 after purchasing an additional 2,175 shares during the period. FMR LLC raised its position in shares of UFP Industries by 13.4% in the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock worth $214,604,000 after buying an additional 193,891 shares in the last quarter. Fisher Asset Management LLC boosted its stake in UFP Industries by 22.3% during the third quarter. Fisher Asset Management LLC now owns 283,806 shares of the construction company’s stock valued at $37,238,000 after buying an additional 51,809 shares during the period. Cerity Partners LLC grew its position in UFP Industries by 194.1% during the third quarter. Cerity Partners LLC now owns 6,332 shares of the construction company’s stock worth $831,000 after buying an additional 4,179 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in UFP Industries by 1.8% during the third quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock worth $822,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

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

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.25). The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $2.10 earnings per share. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 6.88 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.98%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio is presently 18.16%.

Analyst Ratings Changes

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

Insider Buying and Selling at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the transaction, the chief executive officer now owns 314,450 shares in the company, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.58% of the company’s stock.

UFP Industries 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.