Commerce Bank Decreases Position in UFP Industries, Inc. (NASDAQ:UFPI)

Commerce Bank decreased its position in UFP Industries, Inc. (NASDAQ:UFPI) by 19.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,159 shares of the construction company’s stock after selling 2,519 shares during the quarter. Commerce Bank’s holdings in UFP Industries were worth $691,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Synovus Financial Corp increased its position in shares of UFP Industries by 1.2% in the third quarter. Synovus Financial Corp now owns 11,207 shares of the construction company’s stock valued at $762,000 after acquiring an additional 135 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of UFP Industries by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 33,583 shares of the construction company’s stock valued at $2,497,000 after acquiring an additional 166 shares during the period. CWM Advisors LLC increased its position in shares of UFP Industries by 3.1% during the second quarter. CWM Advisors LLC now owns 7,722 shares of the construction company’s stock valued at $574,000 after buying an additional 234 shares during the period. PNC Financial Services Group Inc. increased its position in shares of UFP Industries by 2.7% during the third quarter. PNC Financial Services Group Inc. now owns 8,969 shares of the construction company’s stock valued at $609,000 after buying an additional 236 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in shares of UFP Industries by 1.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 21,041 shares of the construction company’s stock valued at $1,430,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 79.92% of the company’s stock.

Separately, Stifel Nicolaus boosted their price target on shares of UFP Industries from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, October 21st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $88.00.

In related news, CEO Matthew J. Missad sold 1,049 shares of the business’s stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $90.22, for a total transaction of $94,640.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.53% of the company’s stock.

NASDAQ:UFPI opened at $88.60 on Friday. UFP Industries, Inc. has a one year low of $53.77 and a one year high of $94.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.89 and a quick ratio of 1.54. The company’s 50-day simple moving average is $88.91 and its 200 day simple moving average is $79.22. The firm has a market capitalization of $5.48 billion, a P/E ratio of 11.97 and a beta of 1.51.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, October 19th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.55 by $0.38. UFP Industries had a net margin of 5.75% and a return on equity of 26.85%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. UFP Industries’s quarterly revenue was up 40.9% on a year-over-year basis. On average, equities research analysts expect that UFP Industries, Inc. will post 7.46 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, November 30th. UFP Industries’s payout ratio is currently 6.76%.

About UFP Industries

UFP Industries, Inc manufactures and distributes wood and wood alternative products. It operates through the following segments: Retail, Industrial and Construction. The Retail segment comprises national home center retailers, retail-oriented regional lumberyards and contractor-oriented lumberyards. The Industrial segment manufacturers pallets, specialty crates, wooden boxes, and other containers used for packaging, shipping and material handling purposes.

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

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