Thrivent Financial for Lutherans Sells 476 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Posted by on May 14th, 2023

Thrivent Financial for Lutherans lowered its position in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,225 shares of the construction company’s stock after selling 476 shares during the quarter. Thrivent Financial for Lutherans owned about 0.10% of UFP Industries worth $5,011,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of UFP Industries by 13.3% during 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 in the last quarter. Citigroup Inc. boosted its position in shares of UFP Industries by 4.7% during the 1st quarter. Citigroup Inc. now owns 64,448 shares of the construction company’s stock worth $4,972,000 after purchasing an additional 2,886 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of UFP Industries by 9.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,374 shares of the construction company’s stock worth $722,000 after purchasing an additional 792 shares in the last quarter. Bank of Montreal Can boosted its position in shares of UFP Industries by 2.1% during the 1st quarter. Bank of Montreal Can now owns 17,664 shares of the construction company’s stock worth $1,445,000 after purchasing an additional 366 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of UFP Industries by 54.6% during the 1st quarter. MetLife Investment Management LLC now owns 32,217 shares of the construction company’s stock worth $2,486,000 after purchasing an additional 11,377 shares in the last quarter. Institutional investors own 81.69% of the company’s stock.

UFP Industries Trading Down 0.2 %

Shares of UFPI stock opened at $81.50 on Friday. The company has a 50 day moving average of $79.30 and a 200-day moving average of $81.67. The company has a quick ratio of 2.46, a current ratio of 4.27 and a debt-to-equity ratio of 0.10. UFP Industries, Inc. has a 12-month low of $64.13 and a 12-month high of $99.40. The firm has a market cap of $5.09 billion, a P/E ratio of 8.17 and a beta of 1.48.

UFP Industries (NASDAQ:UFPI – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The construction company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.33. UFP Industries had a net margin of 7.02% and a return on equity of 24.92%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $3.00 EPS. UFP Industries’s quarterly revenue was down 26.8% compared to the same quarter last year. Sell-side analysts anticipate that UFP Industries, Inc. will post 7.94 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.23%. The ex-dividend date is Wednesday, May 31st. UFP Industries’s dividend payout ratio (DPR) is presently 10.03%.

Insider Buying and Selling

In related news, insider Patrick M. Benton sold 13,161 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $83.55, for a total value of $1,099,601.55. Following the completion of the transaction, the insider now directly owns 123,046 shares of the company’s stock, valued at approximately $10,280,493.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Patrick M. Benton sold 13,161 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $83.55, for a total value of $1,099,601.55. Following the completion of the transaction, the insider now directly owns 123,046 shares of the company’s stock, valued at approximately $10,280,493.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Missad sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $79.03, for a total transaction of $790,300.00. Following the completion of the transaction, the chief executive officer now directly owns 370,545 shares of the company’s stock, valued at $29,284,171.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,591 shares of company stock valued at $7,106,975. Company insiders own 3.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UFPI. Benchmark raised their price target on shares of UFP Industries from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. DA Davidson increased their price objective on shares of UFP Industries from $102.00 to $112.00 in a research note on Wednesday, May 3rd. StockNews.com assumed coverage on shares of UFP Industries in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus decreased their price objective on shares of UFP Industries from $102.00 to $100.00 in a research note on Wednesday, May 3rd.

UFP Industries 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.

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Institutional Ownership by Quarter for UFP Industries (NASDAQ:UFPI)

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