Commerce Bank Sells 189 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Commerce Bank reduced its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,313 shares of the construction company’s stock after selling 189 shares during the quarter. Commerce Bank’s holdings in UFP Industries were worth $828,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. boosted its stake in UFP Industries by 300.0% in 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 in the last quarter. Headlands Technologies LLC purchased a new stake in shares of UFP Industries in the second quarter worth about $29,000. Signaturefd LLC boosted its position in UFP Industries by 31.8% in the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after purchasing an additional 76 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of UFP Industries in the 2nd quarter valued at $56,000. Finally, GAMMA Investing LLC boosted its holdings in UFP Industries by 84.2% during the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after buying an additional 234 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Wedbush reissued an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus lifted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Benchmark upped their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.00.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI opened at $139.02 on Tuesday. The business’s 50 day moving average price is $131.16 and its 200-day moving average price is $122.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The firm has a market capitalization of $8.44 billion, a PE ratio of 19.12 and a beta of 1.39. UFP Industries, Inc. has a 1 year low of $107.49 and a 1 year high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 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 for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business posted $2.10 EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. As a group, equities research analysts expect that UFP Industries, Inc. will post 6.89 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.95%. The ex-dividend date is Monday, December 2nd. UFP Industries’s payout ratio is currently 18.16%.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.58% of the stock is owned by insiders.

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.