Verition Fund Management LLC Sells 6,204 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Verition Fund Management LLC reduced its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 39.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,570 shares of the construction company's stock after selling 6,204 shares during the period. Verition Fund Management LLC's holdings in UFP Industries were worth $1,256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 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 valued at $25,000 after purchasing an additional 144 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of UFP Industries in the 2nd quarter valued at $29,000. Signaturefd LLC lifted its stake in shares of UFP Industries by 31.8% in 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 acquired a new stake in shares of UFP Industries during the 2nd quarter valued at $56,000. Finally, GAMMA Investing LLC increased its holdings in 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 purchasing an additional 234 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Trading Up 0.7 %

Shares of NASDAQ UFPI traded up $0.96 during trading on Friday, reaching $133.04. The company had a trading volume of 151,073 shares, compared to its average volume of 212,318. The stock has a market cap of $8.08 billion, a P/E ratio of 18.30 and a beta of 1.41. The company's fifty day moving average price is $131.93 and its 200-day moving average price is $123.51. 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 released its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share 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 analyst estimates of $1.76 billion. During the same period in the prior year, the company posted $2.10 EPS. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, research analysts expect that UFP Industries, Inc. will post 6.88 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Monday, December 2nd. UFP Industries's dividend payout ratio (DPR) is presently 18.16%.

Insider Transactions at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 314,450 shares of the company's stock, valued at $41,202,383.50. This represents a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.58% of the company's stock.

Analyst Ratings Changes

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