Raymond James Trust N.A. Purchases Shares of 2,780 UFP Industries, Inc. (NASDAQ:UFPI)

Posted by Defense World Staff on Apr 27th, 2023

Raymond James Trust N.A. purchased a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,780 shares of the construction company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in shares of UFP Industries by 1.6% during the third quarter. Arizona State Retirement System now owns 17,048 shares of the construction company’s stock worth $1,230,000 after purchasing an additional 272 shares in the last quarter. CX Institutional increased its stake in shares of UFP Industries by 1,747.3% in the third quarter. CX Institutional now owns 12,931 shares of the construction company’s stock worth $933,000 after buying an additional 12,231 shares during the last quarter. Strs Ohio increased its stake in shares of UFP Industries by 181.3% in the third quarter. Strs Ohio now owns 21,100 shares of the construction company’s stock worth $1,522,000 after buying an additional 13,600 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in shares of UFP Industries by 205.7% in the third quarter. Ensign Peak Advisors Inc now owns 67,305 shares of the construction company’s stock worth $4,857,000 after buying an additional 45,285 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of UFP Industries by 3.0% in the third quarter. BlackRock Inc. now owns 10,532,771 shares of the construction company’s stock worth $760,045,000 after buying an additional 307,354 shares during the last quarter. 81.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at UFP Industries

In related news, CEO Matthew J. Missad sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $83.90, for a total value of $839,000.00. Following the sale, the chief executive officer now directly owns 380,845 shares in the company, valued at approximately $31,952,895.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Michael R. Cole sold 4,600 shares of the company’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 completion of the sale, the chief financial officer now owns 152,689 shares of the company’s stock, valued at $13,039,640.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Missad sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were 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 approximately $31,952,895.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,591 shares of company stock worth $7,106,975. Company insiders own 3.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on UFPI shares. StockNews.com started coverage on shares of UFP Industries in a research note on Thursday, March 16th. They set a “buy” rating for the company. Benchmark boosted their target price on shares of UFP Industries from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd.

UFP Industries Stock Down 2.6 %

UFPI stock opened at $76.18 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.70 and a quick ratio of 2.11. UFP Industries, Inc. has a 1-year low of $64.13 and a 1-year high of $99.40. The firm has a fifty day moving average price of $80.61 and a two-hundred day moving average price of $80.90. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 6.93 and a beta of 1.48.

UFP Industries (NASDAQ:UFPI – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The construction company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.73 by $0.37. UFP Industries had a net margin of 7.20% and a return on equity of 28.83%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the firm earned $2.19 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Research analysts predict that UFP Industries, Inc. will post 7.6 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.31%. UFP Industries’s dividend payout ratio (DPR) is presently 9.10%.

UFP Industries Company Profile

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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.