Loomis Sayles & Co. L P Sells 4,062 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Loomis Sayles & Co. L P trimmed its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 270,574 shares of the construction company’s stock after selling 4,062 shares during the quarter. Loomis Sayles & Co. L P’s holdings in UFP Industries were worth $35,502,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in UFPI. Kayne Anderson Rudnick Investment Management LLC grew its stake in UFP Industries by 0.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after acquiring an additional 28,601 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of UFP Industries by 3.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock valued at $116,467,000 after purchasing an additional 32,555 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 purchasing an additional 4,006 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of UFP Industries by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after purchasing an additional 5,784 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of UFP Industries by 22.7% in the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock worth $67,594,000 after buying an additional 112,518 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Benchmark lifted their price objective on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. BMO Capital Markets lifted their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Price Performance

UFPI stock opened at $139.02 on Tuesday. The company has a current ratio of 4.31, a quick ratio of 3.25 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. The stock has a market cap of $8.44 billion, a PE ratio of 19.12 and a beta of 1.39. The company has a 50-day moving average price of $131.16 and a 200 day moving average price of $122.63.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share 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 business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company posted $2.10 earnings per share. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that UFP Industries, Inc. will post 6.89 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s dividend payout ratio is presently 18.16%.

Insider Transactions at UFP Industries

In related 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 value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.58% of the company’s stock.

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.