Wedge Capital Management L L P NC Sells 9,013 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Wedge Capital Management L L P NC reduced its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 14.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 51,409 shares of the construction company’s stock after selling 9,013 shares during the period. Wedge Capital Management L L P NC owned approximately 0.08% of UFP Industries worth $5,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UFPI. Hsbc Holdings PLC lifted its stake 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 purchasing an additional 4,595 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of UFP Industries by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock valued at $82,847,000 after buying an additional 60,859 shares in the last quarter. Citigroup Inc. lifted its position in UFP Industries by 50.7% in the 3rd quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock worth $15,670,000 after buying an additional 40,162 shares during the last quarter. Seizert Capital Partners LLC boosted its stake in UFP Industries by 85.5% in the third quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company’s stock worth $4,543,000 after buying an additional 15,958 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in UFP Industries by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock valued at $101,011,000 after acquiring an additional 4,006 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

UFP Industries stock opened at $116.76 on Friday. UFP Industries, Inc. has a 1-year low of $107.25 and a 1-year high of $141.33. The firm has a market cap of $7.09 billion, a P/E ratio of 16.06 and a beta of 1.45. 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 firm has a 50-day moving average of $123.19 and a 200-day moving average of $123.79.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data 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 return on equity of 14.45% and a net margin of 6.70%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business posted $2.10 earnings per share. UFP Industries’s quarterly 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 year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.33 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 1.13%. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Insider Activity

In other UFP Industries news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the transaction, the director now directly owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Missad sold 15,000 shares of the 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 owns 314,450 shares in the company, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UFPI. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wedbush restated an “outperform” rating and set a $155.00 price target 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.