Exchange Traded Concepts LLC trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 74.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 850 shares of the construction company’s stock after selling 2,496 shares during the period. Exchange Traded Concepts LLC’s holdings in UFP Industries were worth $67,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in UFP Industries by 13.3% in the 1st quarter. American Century Companies Inc. now owns 12,877 shares of the construction company’s stock worth $994,000 after purchasing an additional 1,513 shares during the period. Citigroup Inc. boosted its position in shares of UFP Industries by 4.7% in the first quarter. Citigroup Inc. now owns 64,448 shares of the construction company’s stock worth $4,972,000 after buying an additional 2,886 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of UFP Industries by 9.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,374 shares of the construction company’s stock worth $722,000 after buying an additional 792 shares during the period. Bank of Montreal Can boosted its position in shares of UFP Industries by 2.1% in the first quarter. Bank of Montreal Can now owns 17,664 shares of the construction company’s stock worth $1,445,000 after buying an additional 366 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of UFP Industries by 54.6% in the first quarter. MetLife Investment Management LLC now owns 32,217 shares of the construction company’s stock worth $2,486,000 after buying an additional 11,377 shares during the period. 81.69% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CFO Michael R. Cole sold 4,600 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $85.40, for a total transaction of $392,840.00. Following the completion of the sale, the chief financial officer now directly owns 152,689 shares in the company, valued at $13,039,640.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other UFP Industries news, CEO Matthew J. Missad sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $83.90, for a total transaction of $839,000.00. Following the transaction, the chief executive officer now directly owns 380,845 shares in the company, valued at $31,952,895.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael R. Cole sold 4,600 shares of the firm’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $85.40, for a total value of $392,840.00. Following the transaction, the chief financial officer now owns 152,689 shares in the company, valued at $13,039,640.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,591 shares of company stock worth $7,106,975. Corporate insiders own 3.55% of the company’s stock.
UFP Industries Price Performance
UFP Industries (NASDAQ:UFPI – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The construction company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.37. UFP Industries had a return on equity of 28.83% and a net margin of 7.20%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the company earned $2.19 earnings per share. UFP Industries’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that UFP Industries, Inc. will post 7.6 earnings per share for the current fiscal year.
UFP Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. UFP Industries’s dividend payout ratio is 9.10%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on UFPI. Benchmark raised their target price on UFP Industries from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. StockNews.com began coverage on UFP Industries in a research report on Thursday, March 16th. They issued a “buy” rating for the company.
About UFP Industries
UFP Industries, Inc engages in the supply of products primarily manufactured from wood, wood and non-wood composites, and other materials to retail, packaging, and construction markets. It operates through the following segments: Retail Solutions, Packaging, and Construction. The Retail Solutions segment sells treated lumber products, wood plastic composite, mineral based composite decking and related decking accessories, exterior sliding, pattern, trim, and facia products.
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