Principal Financial Group Inc. Sells 68,207 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Principal Financial Group Inc. decreased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 29.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,087 shares of the construction company’s stock after selling 68,207 shares during the quarter. Principal Financial Group Inc. owned about 0.26% of UFP Industries worth $21,005,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its stake in UFP Industries by 18.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after purchasing an additional 188,969 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of UFP Industries by 6.6% during the third quarter. Sanctuary Advisors LLC now owns 10,897 shares of the construction company’s stock worth $1,450,000 after acquiring an additional 674 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of UFP Industries by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock worth $200,553,000 after acquiring an additional 14,857 shares during the last quarter. Vestcor Inc lifted its position in UFP Industries by 2.4% in the 3rd quarter. Vestcor Inc now owns 11,096 shares of the construction company’s stock valued at $1,456,000 after acquiring an additional 261 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in UFP Industries by 17.3% during the 3rd quarter. M&T Bank Corp now owns 3,029 shares of the construction company’s stock valued at $397,000 after purchasing an additional 446 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Matthew J. Missad sold 15,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This represents a 4.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the sale, the director now directly owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. This trade represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.58% of the company’s stock.

Analysts Set New Price Targets

UFPI has been the subject of several analyst reports. StockNews.com raised UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Stock Performance

UFPI stock opened at $113.66 on Thursday. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.90 billion, a PE ratio of 15.63 and a beta of 1.41. The business has a 50 day moving average of $128.85 and a 200-day moving average of $123.90. UFP Industries, Inc. has a 12-month low of $107.49 and a 12-month high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (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 net margin of 6.70% and a return on equity of 14.45%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 earnings per share. As a group, sell-side analysts expect that UFP Industries, Inc. will post 6.88 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, December 2nd. UFP Industries’s payout ratio is 18.16%.

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.