Bridgewater Associates LP Sells 18,094 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Bridgewater Associates LP lowered its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 88.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,338 shares of the construction company's stock after selling 18,094 shares during the quarter. Bridgewater Associates LP's holdings in UFP Industries were worth $307,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in UFPI. UMB Bank n.a. lifted its holdings in UFP Industries by 300.0% in the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company's stock valued at $25,000 after acquiring an additional 144 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of UFP Industries in the second quarter valued at $29,000. Signaturefd LLC lifted its position in shares of UFP Industries by 31.8% during the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company's stock valued at $41,000 after acquiring an additional 76 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of UFP Industries during the 2nd quarter worth $56,000. Finally, GAMMA Investing LLC grew its holdings in shares of UFP Industries by 84.2% in the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company's stock worth $57,000 after acquiring an additional 234 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UFPI shares. StockNews.com upgraded shares of UFP Industries from a "hold" rating to a "buy" rating in a research report on Tuesday. 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 research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $148.00.

Insider Activity at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the completion of the sale, the chief executive officer now owns 314,450 shares in the company, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.58% of the stock is currently owned by company insiders.

UFP Industries Stock Performance

UFPI stock traded down $3.79 during trading on Wednesday, reaching $130.53. 66,916 shares of the stock were exchanged, compared to its average volume of 277,070. The stock has a 50 day simple moving average of $131.80 and a 200-day simple moving average of $123.28. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $7.93 billion, a P/E ratio of 18.48 and a beta of 1.41. UFP Industries, Inc. has a twelve month low of $107.49 and a twelve month high of $141.33.

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

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Monday, December 2nd. UFP Industries's dividend payout ratio is presently 18.16%.

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.