UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 46.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,152 shares of the construction company’s stock after selling 1,843 shares during the quarter. Park Avenue Securities LLC’s holdings in UFP Industries were worth $265,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of UFPI. NewEdge Wealth LLC acquired a new position in shares of UFP Industries in the fourth quarter worth $3,046,000. AdvisorShares Investments LLC acquired a new position in shares of UFP Industries in the fourth quarter worth about $509,000. American Century Companies Inc. lifted its stake in shares of UFP Industries by 42.2% in the third quarter. American Century Companies Inc. now owns 252,270 shares of the construction company’s stock worth $25,832,000 after acquiring an additional 74,852 shares in the last quarter. Raymond James & Associates lifted its stake in shares of UFP Industries by 133.2% in the fourth quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock worth $23,623,000 after acquiring an additional 107,477 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in UFP Industries by 7.3% during the third quarter. Stifel Financial Corp now owns 29,079 shares of the construction company’s stock valued at $2,978,000 after buying an additional 1,982 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UFPI shares. StockNews.com upgraded UFP Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Benchmark decreased their price objective on UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries currently has an average rating of “Moderate Buy” and a consensus price target of $116.50.

Insider Activity

In other news, CFO Michael R. Cole sold 1,452 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $119.28, for a total transaction of $173,194.56. Following the completion of the sale, the chief financial officer now owns 165,155 shares in the company, valued at approximately $19,699,688.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Patrick M. Benton sold 11,725 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the sale, the insider now owns 97,729 shares in the company, valued at approximately $11,265,221.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael R. Cole sold 1,452 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the completion of the sale, the chief financial officer now owns 165,155 shares of the company’s stock, valued at approximately $19,699,688.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,687 shares of company stock worth $3,831,653. Insiders own 2.58% of the company’s stock.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $110.32 on Tuesday. The stock has a fifty day moving average price of $116.18 and a two-hundred day moving average price of $117.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 4.79. The firm has a market cap of $6.81 billion, a P/E ratio of 13.72 and a beta of 1.41. UFP Industries, Inc. has a 1 year low of $90.62 and a 1 year high of $128.65.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the company posted $1.98 EPS. Research analysts forecast that UFP Industries, Inc. will post 7.53 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.20%. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

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.