JPMorgan Chase & Co. Sells 9,677 Shares of UFP Industries, Inc. $UFPI

JPMorgan Chase & Co. reduced its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 494,721 shares of the construction company’s stock after selling 9,677 shares during the period. JPMorgan Chase & Co. owned about 0.84% of UFP Industries worth $46,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D lifted its stake in UFP Industries by 10.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,352 shares of the construction company’s stock valued at $1,996,000 after purchasing an additional 2,072 shares during the last quarter. MQS Management LLC increased its holdings in shares of UFP Industries by 77.4% during the third quarter. MQS Management LLC now owns 6,678 shares of the construction company’s stock worth $624,000 after buying an additional 2,913 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in shares of UFP Industries by 4.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 5,543 shares of the construction company’s stock valued at $518,000 after acquiring an additional 250 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of UFP Industries by 2.0% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 27,494 shares of the construction company’s stock valued at $2,570,000 after acquiring an additional 552 shares in the last quarter. Finally, Profund Advisors LLC grew its position in UFP Industries by 6.1% during the 3rd quarter. Profund Advisors LLC now owns 2,426 shares of the construction company’s stock worth $227,000 after acquiring an additional 139 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Trading Up 0.4%

UFPI opened at $105.04 on Friday. UFP Industries, Inc. has a twelve month low of $87.11 and a twelve month high of $118.00. The company has a fifty day moving average of $103.62 and a 200-day moving average of $97.82. The stock has a market cap of $6.12 billion, a PE ratio of 21.05 and a beta of 1.49. The company has a quick ratio of 3.23, a current ratio of 4.59 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, February 23rd. The construction company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33). UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company posted $1.12 EPS. The business’s revenue was down 9.0% compared to the same quarter last year. On average, sell-side analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.36 dividend. The ex-dividend date is Monday, March 2nd. This is an increase from UFP Industries’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 1.4%. UFP Industries’s dividend payout ratio is presently 25.88%.

Analyst Ratings Changes

Several equities analysts have commented on UFPI shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. Stifel Nicolaus set a $98.00 price objective on shares of UFP Industries in a report on Tuesday, December 2nd. DA Davidson reiterated a “buy” rating and set a $112.00 target price on shares of UFP Industries in a research report on Tuesday. Finally, Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $107.33.

Insider Transactions at UFP Industries

In other UFP Industries news, Chairman Matthew J. Missad sold 11,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the transaction, the chairman directly owned 310,533 shares in the company, valued at approximately $28,649,774.58. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.56% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.