Arete Wealth Advisors LLC Sells 6,190 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Arete Wealth Advisors LLC lessened its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 53.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,478 shares of the construction company's stock after selling 6,190 shares during the quarter. Arete Wealth Advisors LLC's holdings in UFP Industries were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in UFPI. Hsbc Holdings PLC boosted its stake in UFP Industries by 233.2% during the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company's stock worth $729,000 after acquiring an additional 4,595 shares in the last quarter. Raymond James & Associates grew its holdings in shares of UFP Industries by 16.2% during the second quarter. Raymond James & Associates now owns 209,085 shares of the construction company's stock valued at $23,417,000 after buying an additional 29,221 shares during the last quarter. Citigroup Inc. increased its position in shares of UFP Industries by 50.7% during the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company's stock valued at $15,670,000 after acquiring an additional 40,162 shares in the last quarter. Blue Trust Inc. raised its holdings in UFP Industries by 131.4% in the 2nd quarter. Blue Trust Inc. now owns 870 shares of the construction company's stock worth $107,000 after acquiring an additional 494 shares during the last quarter. Finally, Harfst & Associates Inc. lifted its position in UFP Industries by 2.8% in the 2nd quarter. Harfst & Associates Inc. now owns 22,848 shares of the construction company's stock valued at $2,559,000 after acquiring an additional 627 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UFPI. StockNews.com upgraded UFP Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Wedbush reaffirmed an "outperform" rating and issued a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, UFP Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.

UFP Industries Stock Performance

Shares of NASDAQ UFPI traded down $4.05 during midday trading on Thursday, hitting $128.14. 249,782 shares of the company's stock traded hands, compared to its average volume of 276,260. The firm has a fifty day moving average of $131.99 and a 200 day moving average of $123.80. UFP Industries, Inc. has a 1 year low of $107.49 and a 1 year high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 17.63 and a beta of 1.41.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.25). The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm's quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 earnings per share. On average, analysts forecast that UFP Industries, Inc. will post 6.88 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 1.03%. UFP Industries's dividend payout ratio is currently 18.16%.

Insider Activity at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the sale, the chief executive officer now directly owns 314,450 shares of the company's stock, valued at $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.58% of the stock is owned by company insiders.

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.