Citigroup Inc. Grows Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Citigroup Inc. increased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 50.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 119,426 shares of the construction company's stock after purchasing an additional 40,162 shares during the quarter. Citigroup Inc. owned approximately 0.20% of UFP Industries worth $15,670,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in UFP Industries by 0.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company's stock worth $361,155,000 after purchasing an additional 28,601 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in UFP Industries by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company's stock worth $116,467,000 after purchasing an additional 32,555 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in UFP Industries by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company's stock worth $101,011,000 after purchasing an additional 4,006 shares during the last quarter. AQR Capital Management LLC boosted its holdings in UFP Industries by 22.7% during the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company's stock worth $67,594,000 after purchasing an additional 112,518 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in UFP Industries by 1.0% during the third quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company's stock worth $71,667,000 after purchasing an additional 5,515 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

Shares of NASDAQ UFPI traded down $2.27 during midday trading on Thursday, hitting $135.26. The company's stock had a trading volume of 220,459 shares, compared to its average volume of 279,253. The stock has a fifty day moving average price of $131.53 and a 200 day moving average price of $122.86. UFP Industries, Inc. has a one year low of $107.49 and a one year high of $141.33. 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 firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 18.61 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted 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). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the firm earned $2.10 EPS. On average, research analysts forecast that UFP Industries, Inc. will post 6.89 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company 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 dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Monday, December 2nd. UFP Industries's dividend payout ratio (DPR) is presently 18.16%.

Insider Buying and Selling

In related news, CEO Matthew J. Missad sold 15,000 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 314,450 shares of the company's stock, valued at approximately $41,202,383.50. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UFPI. Stifel Nicolaus boosted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a "market perform" rating in a research note on Wednesday, July 31st. Benchmark boosted their target price on shares of UFP Industries from $133.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Wedbush reiterated an "outperform" rating and issued a $155.00 target price on shares of UFP Industries in a research note on Monday, November 4th. Finally, StockNews.com cut shares of UFP Industries from a "buy" rating to a "hold" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, UFP Industries presently has a consensus rating of "Moderate Buy" and an average price target of $148.00.

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.