Virtus Investment Advisers Inc. Has $280,000 Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Virtus Investment Advisers Inc. decreased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 67.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,136 shares of the construction company's stock after selling 4,331 shares during the period. Virtus Investment Advisers Inc.'s holdings in UFP Industries were worth $280,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC increased its position in UFP Industries by 233.2% during the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company's stock worth $729,000 after acquiring an additional 4,595 shares during the period. Raymond James & Associates grew its position in UFP Industries by 16.2% in the 2nd quarter. Raymond James & Associates now owns 209,085 shares of the construction company's stock worth $23,417,000 after purchasing an additional 29,221 shares during the last quarter. Citigroup Inc. increased its holdings in shares of UFP Industries by 50.7% during the 3rd quarter. Citigroup Inc. now owns 119,426 shares of the construction company's stock worth $15,670,000 after purchasing an additional 40,162 shares during the period. Blue Trust Inc. raised its position in shares of UFP Industries by 131.4% during the second quarter. Blue Trust Inc. now owns 870 shares of the construction company's stock valued at $107,000 after buying an additional 494 shares during the last quarter. Finally, Harfst & Associates Inc. lifted its stake in shares of UFP Industries by 2.8% in the second quarter. Harfst & Associates Inc. now owns 22,848 shares of the construction company's stock valued at $2,559,000 after buying an additional 627 shares during the period. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Price Performance

Shares of UFPI traded up $0.96 during mid-day trading on Friday, reaching $133.04. The company had a trading volume of 151,073 shares, compared to its average volume of 219,856. 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 $8.08 billion, a P/E ratio of 18.30 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 company's 50-day moving average is $131.93 and its 200-day moving average is $123.49.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings data 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 return on equity of 14.45% and a net margin of 6.70%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the company earned $2.10 earnings per share. The business's revenue was down 9.8% compared to the same quarter last year. On average, equities analysts anticipate that UFP Industries, Inc. will post 6.88 EPS for the current year.

UFP Industries Announces Dividend

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

Insiders Place Their Bets

In other UFP Industries 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 transaction, the chief executive officer now owns 314,450 shares of the company's stock, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded UFP Industries from a "hold" rating to a "buy" rating in a research note on Tuesday. Wedbush reaffirmed an "outperform" rating and issued a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries 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.