Geode Capital Management LLC Acquires 14,857 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Geode Capital Management LLC boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,528,221 shares of the construction company's stock after acquiring an additional 14,857 shares during the period. Geode Capital Management LLC owned approximately 2.52% of UFP Industries worth $200,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UFPI. Signaturefd LLC grew its holdings in UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company's stock worth $41,000 after purchasing an additional 76 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of UFP Industries by 0.7% during the second quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company's stock worth $1,630,000 after acquiring an additional 105 shares during the period. Kingsview Wealth Management LLC grew its position in shares of UFP Industries by 1.8% in the third quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company's stock valued at $822,000 after purchasing an additional 113 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of UFP Industries by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company's stock worth $866,000 after purchasing an additional 130 shares during the period. Finally, GAMMA Investing LLC boosted its stake in UFP Industries by 25.8% in the 3rd quarter. GAMMA Investing LLC now owns 644 shares of the construction company's stock valued at $84,000 after purchasing an additional 132 shares during the period. 81.81% of the stock is currently owned by institutional investors.

Insider Activity at UFP Industries

In other 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 value 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 $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 available through this hyperlink. Also, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the transaction, the director now directly owns 61,140 shares in the company, valued at approximately $7,739,712.60. This represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is owned by corporate insiders.

UFP Industries Trading Down 1.7 %

NASDAQ:UFPI traded down $2.22 during trading hours on Monday, hitting $124.64. 254,899 shares of the company were exchanged, compared to its average volume of 275,933. 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 stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 17.29 and a beta of 1.41. The company has a fifty day simple moving average of $131.93 and a 200 day simple moving average of $123.96.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly 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). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company posted $2.10 EPS. The business's revenue was down 9.8% compared to the same quarter last year. Sell-side analysts expect that UFP Industries, Inc. will post 6.88 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.06%. UFP Industries's dividend payout ratio is currently 18.16%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wedbush reaffirmed an "outperform" rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. StockNews.com raised UFP Industries from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, UFP Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.00.

UFP Industries Company 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.