Citigroup Inc. Buys 40,162 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Citigroup Inc. boosted its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 50.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,426 shares of the construction company’s stock after buying an additional 40,162 shares during the period. Citigroup Inc. owned approximately 0.20% of UFP Industries worth $15,670,000 at the end of the most recent quarter.

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

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of the business’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 directly owns 314,450 shares in the company, valued at $41,202,383.50. The trade was a 4.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.58% of the stock is owned by company insiders.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $135.26 on Thursday. The company has a market capitalization of $8.21 billion, a P/E ratio of 18.61 and a beta of 1.39. 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’s 50 day simple moving average is $131.39 and its two-hundred day simple moving average is $122.77. UFP Industries, Inc. has a 1-year low of $107.49 and a 1-year high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its quarterly 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). 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%. UFP Industries’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.10 EPS. Research analysts expect that UFP Industries, Inc. will post 6.89 EPS for the current fiscal year.

UFP Industries Dividend Announcement

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

Analyst Ratings Changes

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

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.