MetLife Investment Management LLC Sells 1,588 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

MetLife Investment Management LLC lowered its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,719 shares of the construction company’s stock after selling 1,588 shares during the period. MetLife Investment Management LLC owned approximately 0.11% of UFP Industries worth $8,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quantbot Technologies LP increased its stake in UFP Industries by 44.5% in the 3rd quarter. Quantbot Technologies LP now owns 7,061 shares of the construction company’s stock worth $926,000 after purchasing an additional 2,175 shares during the period. FMR LLC grew its holdings in shares of UFP Industries by 13.4% in the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock worth $214,604,000 after purchasing an additional 193,891 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of UFP Industries by 22.3% in the third quarter. Fisher Asset Management LLC now owns 283,806 shares of the construction company’s stock worth $37,238,000 after buying an additional 51,809 shares during the period. Cerity Partners LLC raised its holdings in UFP Industries by 194.1% during the 3rd quarter. Cerity Partners LLC now owns 6,332 shares of the construction company’s stock valued at $831,000 after buying an additional 4,179 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in UFP Industries by 1.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock valued at $822,000 after buying an additional 113 shares during the period. Institutional investors own 81.81% of the company’s stock.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction 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. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

UFPI has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a research note on Monday. Two equities 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Stock Performance

UFP Industries stock opened at $135.26 on Friday. UFP Industries, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $141.33. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 18.61 and a beta of 1.39. The stock’s 50 day simple moving average is $131.53 and its two-hundred day simple moving average is $122.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31.

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). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. UFP Industries’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 earnings per share. As a group, analysts expect that UFP Industries, Inc. will post 6.88 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s dividend payout ratio is presently 18.16%.

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.