Edgestream Partners L.P. Lowers Position in UFP Industries, Inc. (NASDAQ:UFPI)

Edgestream Partners L.P. lowered its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 56.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,448 shares of the construction company's stock after selling 9,848 shares during the quarter. Edgestream Partners L.P.'s holdings in UFP Industries were worth $977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Walleye Capital LLC purchased a new stake in shares of UFP Industries during the 3rd quarter worth approximately $556,000. Hantz Financial Services Inc. grew its holdings in shares of UFP Industries by 21.6% during the third quarter. Hantz Financial Services Inc. now owns 26,657 shares of the construction company's stock worth $3,498,000 after purchasing an additional 4,730 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of UFP Industries by 10.5% during the third quarter. Northwest & Ethical Investments L.P. now owns 2,375 shares of the construction company's stock worth $312,000 after purchasing an additional 225 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of UFP Industries by 2.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,642 shares of the construction company's stock valued at $1,790,000 after purchasing an additional 354 shares during the last quarter. Finally, De Lisle Partners LLP lifted its holdings in shares of UFP Industries by 28.1% in the 3rd quarter. De Lisle Partners LLP now owns 66,054 shares of the construction company's stock valued at $8,665,000 after purchasing an additional 14,500 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

Insider Activity

In other news, CEO Matthew J. Missad sold 15,000 shares of the business's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now directly owns 314,450 shares of the company's stock, valued at $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UFPI. StockNews.com upgraded UFP Industries from a "hold" rating to a "buy" rating in a research note on Tuesday. Wedbush restated an "outperform" rating and issued a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. One equities 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.00.

UFP Industries Price Performance

Shares of UFP Industries stock traded up $0.42 during trading on Thursday, reaching $132.08. The company's stock had a trading volume of 254,246 shares, compared to its average volume of 277,747. The business has a 50 day moving average price of $131.85 and a 200-day moving average price of $123.34. The company has a market capitalization of $8.02 billion, a P/E ratio of 18.11 and a beta of 1.41. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12-month low of $107.49 and a 12-month high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 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 company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business earned $2.10 EPS. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 6.88 EPS for the current year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries's dividend payout ratio (DPR) is 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.