Argent Capital Management LLC Increases Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Argent Capital Management LLC grew its position in UFP Industries, Inc. (NASDAQ:UFPI) by 35.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,306 shares of the construction company’s stock after buying an additional 3,241 shares during the quarter. Argent Capital Management LLC’s holdings in UFP Industries were worth $1,386,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Signaturefd LLC increased its position in shares of UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after buying an additional 76 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of UFP Industries by 1.8% during the third quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock valued at $822,000 after acquiring an additional 113 shares during the last quarter. GAMMA Investing LLC boosted its stake in UFP Industries by 25.8% in the 3rd quarter. GAMMA Investing LLC now owns 644 shares of the construction company’s stock worth $84,000 after buying an additional 132 shares during the last quarter. UMB Bank n.a. boosted its stake in UFP Industries by 300.0% in the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after buying an additional 144 shares during the last quarter. Finally, Argent Trust Co boosted its stake in UFP Industries by 3.5% in the 2nd quarter. Argent Trust Co now owns 4,362 shares of the construction company’s stock worth $489,000 after buying an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on UFPI. Wedbush reissued an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research note on Monday, November 4th. StockNews.com raised UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, UFP Industries has an average rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Price Performance

Shares of UFPI stock opened at $117.57 on Thursday. The company has a market capitalization of $7.14 billion, a PE ratio of 16.17 and a beta of 1.45. The firm has a fifty day simple moving average of $123.87 and a 200-day simple moving average of $123.69. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a twelve month low of $107.25 and a twelve month high of $141.33.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 EPS 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 for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company earned $2.10 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that UFP Industries, Inc. will post 6.88 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.33 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.12%. UFP Industries’s payout ratio is currently 18.16%.

Insider Transactions at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Currie sold 5,700 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the transaction, the director now directly owns 61,140 shares in the company, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.58% of the company’s stock.

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.