Thrivent Financial for Lutherans Reduces Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Thrivent Financial for Lutherans lowered its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 4.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,312 shares of the construction company’s stock after selling 609 shares during the period. Thrivent Financial for Lutherans’ holdings in UFP Industries were worth $1,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Seizert Capital Partners LLC increased its position in UFP Industries by 85.5% during the third quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company’s stock worth $4,543,000 after buying an additional 15,958 shares during the period. Natixis Advisors LLC grew its position in shares of UFP Industries by 4.6% during the third quarter. Natixis Advisors LLC now owns 30,639 shares of the construction company’s stock worth $4,020,000 after acquiring an additional 1,361 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of UFP Industries in the 3rd quarter valued at $236,000. Parametrica Management Ltd purchased a new stake in UFP Industries in the 3rd quarter valued at $509,000. Finally, MQS Management LLC acquired a new stake in UFP Industries during the 3rd quarter worth $240,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Down 1.7 %

Shares of NASDAQ:UFPI opened at $135.26 on Friday. UFP Industries, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $141.33. 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 company has a market cap of $8.21 billion, a price-to-earnings ratio of 18.61 and a beta of 1.39. The firm’s 50-day simple moving average is $131.53 and its 200-day simple moving average is $122.86.

UFP Industries (NASDAQ:UFPI) last posted its earnings results 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). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business posted $2.10 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. As a group, equities research analysts predict that UFP Industries, Inc. will post 6.89 earnings per share for the current year.

UFP Industries Announces Dividend

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

Insider Activity

In related news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were 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 approximately $41,202,383.50. This represents a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Monday. Wedbush reissued an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.