The Manufacturers Life Insurance Company Cuts Position in UFP Industries, Inc. (NASDAQ:UFPI)

The Manufacturers Life Insurance Company reduced its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,933 shares of the construction company’s stock after selling 3,067 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of UFP Industries worth $9,307,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in UFP Industries by 0.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after purchasing an additional 28,601 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in UFP Industries by 3.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock valued at $116,467,000 after purchasing an additional 32,555 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of UFP Industries by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock worth $101,011,000 after buying an additional 4,006 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of UFP Industries by 22.7% in the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after purchasing an additional 112,518 shares in the last quarter. Finally, Copeland Capital Management LLC grew its holdings in UFP Industries by 1.0% during the 3rd quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company’s stock valued at $71,667,000 after buying an additional 5,515 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Down 0.5 %

Shares of UFPI stock opened at $134.32 on Wednesday. UFP Industries, Inc. has a twelve month low of $107.49 and a twelve month 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 company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 18.48 and a beta of 1.41. The stock’s 50 day simple moving average is $131.75 and its 200 day simple moving average is $123.18.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (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 during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company posted $2.10 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, research analysts predict that UFP Industries, Inc. will post 6.88 EPS for the current year.

UFP Industries Dividend Announcement

The business 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 $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 0.98%. UFP Industries’s dividend payout ratio is presently 18.16%.

Insiders Place Their Bets

In other news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction that occurred on Friday, November 22nd. The stock was 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. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on UFPI shares. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.