Citigroup Inc. Has $6.53 Million Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Posted by Defense World Staff on May 20th, 2023

Citigroup Inc. lifted its holdings in UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 100.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,358 shares of the construction company’s stock after acquiring an additional 41,277 shares during the quarter. Citigroup Inc. owned approximately 0.13% of UFP Industries worth $6,527,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Arizona State Retirement System increased its position in shares of UFP Industries by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 17,048 shares of the construction company’s stock valued at $1,230,000 after buying an additional 272 shares in the last quarter. Raymond James Trust N.A. bought a new stake in shares of UFP Industries in the 4th quarter valued at $220,000. CX Institutional increased its position in shares of UFP Industries by 1,747.3% in the 3rd quarter. CX Institutional now owns 12,931 shares of the construction company’s stock valued at $933,000 after buying an additional 12,231 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in UFP Industries by 205.7% in the 3rd quarter. Ensign Peak Advisors Inc now owns 67,305 shares of the construction company’s stock worth $4,857,000 after purchasing an additional 45,285 shares during the period. Finally, BlackRock Inc. boosted its stake in UFP Industries by 3.0% in the 3rd quarter. BlackRock Inc. now owns 10,532,771 shares of the construction company’s stock worth $760,045,000 after purchasing an additional 307,354 shares during the period. Institutional investors and hedge funds own 81.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on UFPI. BMO Capital Markets upped their target price on shares of UFP Industries from $95.00 to $100.00 in a research note on Tuesday. Benchmark upped their target price on shares of UFP Industries from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. StockNews.com began coverage on shares of UFP Industries in a research note on Thursday. They issued a “buy” rating for the company. DA Davidson upped their target price on shares of UFP Industries from $102.00 to $112.00 in a research note on Wednesday, May 3rd. Finally, Stifel Nicolaus decreased their price objective on UFP Industries from $102.00 to $100.00 in a report on Wednesday, May 3rd.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $83.90, for a total transaction of $839,000.00. Following the completion of the transaction, the chief executive officer now directly owns 380,845 shares in the company, valued at $31,952,895.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other UFP Industries news, insider Patrick M. Benton sold 13,161 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $83.55, for a total transaction of $1,099,601.55. Following the sale, the insider now owns 123,046 shares of the company’s stock, valued at $10,280,493.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew J. Missad sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $83.90, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 89,591 shares of company stock worth $7,524,975 over the last three months. Corporate insiders own 3.55% of the company’s stock.

UFP Industries Trading Down 2.7 %

UFP Industries stock opened at $82.66 on Friday. The stock has a 50-day simple moving average of $79.35 and a 200 day simple moving average of $82.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.46 and a current ratio of 4.27. The stock has a market capitalization of $5.10 billion, a P/E ratio of 8.29 and a beta of 1.48. UFP Industries, Inc. has a 52 week low of $64.13 and a 52 week high of $99.40.

UFP Industries (NASDAQ:UFPI – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The construction company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $3.00 earnings per share. The firm’s quarterly revenue was down 26.8% on a year-over-year basis. Analysts expect that UFP Industries, Inc. will post 8.15 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.00 annualized dividend and a yield of 1.21%. UFP Industries’s dividend payout ratio is currently 10.03%.

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.