Paloma Partners Management Co Buys Shares of 3,616 UFP Industries, Inc. (NASDAQ:UFPI)

Paloma Partners Management Co bought a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,616 shares of the construction company’s stock, valued at approximately $474,000.

Other hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in shares of UFP Industries in the third quarter valued at approximately $373,000. Wasatch Advisors LP grew its position in shares of UFP Industries by 16.1% in the third quarter. Wasatch Advisors LP now owns 590,712 shares of the construction company’s stock valued at $77,507,000 after purchasing an additional 81,950 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of UFP Industries in the third quarter valued at approximately $556,000. Hantz Financial Services Inc. grew its position in shares of UFP Industries by 21.6% in the third quarter. Hantz Financial Services Inc. now owns 26,657 shares of the construction company’s stock valued at $3,498,000 after purchasing an additional 4,730 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its position in shares of UFP Industries by 10.5% in the third quarter. Northwest & Ethical Investments L.P. now owns 2,375 shares of the construction company’s stock valued at $312,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Insider Transactions at UFP Industries

In other 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 transaction, the chief executive officer now directly owns 314,450 shares in the company, 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 filing with the SEC, which is available at the SEC website. Company insiders own 2.58% of the company’s stock.

Wall Street Analysts Forecast Growth

UFPI has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research report on Monday, November 4th. StockNews.com upgraded UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Trading Down 2.0 %

Shares of UFP Industries stock opened at $131.66 on Thursday. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 18.11 and a beta of 1.41. 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 debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The stock has a 50 day moving average of $131.80 and a 200 day moving average of $123.28.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data 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). The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The company’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.10 earnings per share. As a group, research analysts predict that UFP Industries, Inc. will post 6.88 earnings per share for the current year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.00%. UFP Industries’s dividend payout ratio is currently 18.16%.

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.