UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 72.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,997 shares of the construction company’s stock after selling 10,559 shares during the quarter. Meeder Asset Management Inc.’s holdings in UFP Industries were worth $524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. raised its holdings in shares of UFP Industries by 299.5% during the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after purchasing an additional 4,597 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of UFP Industries in the 1st quarter valued at about $1,214,000. Hsbc Holdings PLC grew its holdings in UFP Industries by 233.2% during the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock worth $729,000 after acquiring an additional 4,595 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in UFP Industries by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after acquiring an additional 5,784 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in UFP Industries by 0.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 38,766 shares of the construction company’s stock valued at $4,762,000 after acquiring an additional 137 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $128.13 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The stock has a market capitalization of $7.78 billion, a PE ratio of 17.62 and a beta of 1.39. UFP Industries, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $139.54. The company has a fifty day moving average of $130.05 and a two-hundred day moving average of $122.22.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the business posted $2.10 earnings per share. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. As a group, research analysts forecast that UFP Industries, Inc. will post 7.01 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared 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 dividend yield of 1.03%. The ex-dividend date is Monday, December 2nd. UFP Industries’s payout ratio is 18.16%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UFPI. Wedbush reaffirmed an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Benchmark increased their target price on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets raised their target price on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.