JPMorgan Chase & Co. Purchases 60,859 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

JPMorgan Chase & Co. raised its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 10.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,404 shares of the construction company's stock after buying an additional 60,859 shares during the quarter. JPMorgan Chase & Co. owned 1.04% of UFP Industries worth $82,847,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in shares of UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company's stock valued at $41,000 after buying an additional 76 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in UFP Industries by 0.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company's stock valued at $1,630,000 after acquiring an additional 105 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in UFP Industries by 1.8% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company's stock valued at $822,000 after acquiring an additional 113 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of UFP Industries by 25.8% during the 3rd quarter. GAMMA Investing LLC now owns 644 shares of the construction company's stock valued at $84,000 after acquiring an additional 132 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of UFP Industries by 300.0% during the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company's stock worth $25,000 after purchasing an additional 144 shares in the last quarter. Institutional investors own 81.81% of the company's stock.

Insider Activity at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the business'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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William G. Currie sold 5,700 shares of the firm's stock in a transaction on Friday, December 13th. The shares were 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 of the company's stock, valued at $7,739,712.60. The trade was a 8.53 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com raised UFP Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Wedbush restated 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 issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.

UFP Industries Price Performance

NASDAQ:UFPI traded up $0.28 during trading hours on Friday, hitting $111.44. The company's stock had a trading volume of 264,546 shares, compared to its average volume of 249,673. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The company has a market capitalization of $6.77 billion, a P/E ratio of 15.33 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. The stock has a fifty day simple moving average of $126.13 and a 200-day simple moving average of $123.69.

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 company 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 firm posted $2.10 earnings per share. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. On average, analysts anticipate that UFP Industries, Inc. will post 6.88 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, December 2nd. UFP Industries's payout ratio is 18.16%.

About UFP Industries

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.