MetLife Investment Management LLC Decreases Stake in UFP Industries, Inc. (NASDAQ:UFPI)

MetLife Investment Management LLC decreased its stake in shares of UFP Industries, Inc. (NASDAQ:UFPIFree Report) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & 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’s holdings in UFP Industries were worth $8,492,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its position in UFP Industries by 299.5% in the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after purchasing an additional 4,597 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in UFP Industries by 233.2% during the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock valued at $729,000 after purchasing an additional 4,595 shares in the last quarter. Raymond James & Associates boosted its position in shares of UFP Industries by 16.2% in the second 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 period. Blue Trust Inc. increased its stake in shares of UFP Industries by 131.4% in the second quarter. Blue Trust Inc. now owns 870 shares of the construction company’s stock worth $107,000 after purchasing an additional 494 shares in the last quarter. Finally, Harfst & Associates Inc. raised its position in shares of UFP Industries by 2.8% during the 2nd quarter. Harfst & Associates Inc. now owns 22,848 shares of the construction company’s stock valued at $2,559,000 after purchasing an additional 627 shares during the period. Institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Down 1.7 %

Shares of UFP Industries stock opened at $135.26 on Friday. UFP Industries, Inc. has a twelve month low of $107.49 and a twelve month high of $141.33. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $131.53 and a 200-day moving average price of $122.86. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 18.61 and a beta of 1.39.

UFP Industries (NASDAQ:UFPIGet Free Report) last issued 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 firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company earned $2.10 earnings per share. The firm’s revenue was down 9.8% on a year-over-year basis. Equities research analysts anticipate that UFP Industries, Inc. will post 6.88 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.98%. UFP Industries’s payout ratio is currently 18.16%.

Analyst Ratings Changes

A number of brokerages have issued reports on UFPI. Wedbush reiterated an “outperform” rating and issued a $155.00 price target 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 report on Monday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Get Our Latest Stock Report on UFPI

Insider Transactions at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.58% of the company’s stock.

UFP Industries Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for UFP Industries (NASDAQ:UFPI)

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