JPMorgan Chase & Co. Purchases 60,859 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

JPMorgan Chase & Co. raised its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,404 shares of the construction company’s stock after acquiring an additional 60,859 shares during the period. JPMorgan Chase & Co.’s holdings in UFP Industries were worth $82,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in UFPI. UMB Bank n.a. lifted its position in shares of UFP Industries by 300.0% during the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after purchasing an additional 144 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of UFP Industries during the second quarter worth approximately $29,000. Signaturefd LLC lifted its holdings in shares of UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after buying an additional 76 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of UFP Industries in the third quarter worth $70,000. Finally, GAMMA Investing LLC increased its position in UFP Industries by 25.8% during the third quarter. GAMMA Investing LLC now owns 644 shares of the construction company’s stock worth $84,000 after acquiring an additional 132 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on UFPI shares. StockNews.com raised shares of UFP Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, UFP Industries currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now owns 314,450 shares in the company, valued at $41,202,383.50. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William G. Currie sold 5,700 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by company insiders.

UFP Industries Trading Down 1.3 %

Shares of UFP Industries stock opened at $111.16 on Friday. UFP Industries, Inc. has a 12-month low of $107.49 and a 12-month high of $141.33. The stock has a market capitalization of $6.75 billion, a P/E ratio of 15.29 and a beta of 1.41. The company has a 50-day simple moving average of $126.51 and a 200 day simple moving average of $123.72. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07.

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

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.33 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.19%. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

About UFP Industries

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.