Amalgamated Bank Lowers Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Amalgamated Bank trimmed its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,349 shares of the construction company’s stock after selling 3,062 shares during the period. Amalgamated Bank owned about 0.05% of UFP Industries worth $3,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC lifted its position in shares of UFP Industries by 1.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 9,805 shares of the construction company’s stock worth $1,004,000 after purchasing an additional 103 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of UFP Industries by 4.9% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,566 shares of the construction company’s stock worth $322,000 after purchasing an additional 119 shares during the period. Blue Trust Inc. lifted its position in shares of UFP Industries by 25.6% in the 4th quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock worth $75,000 after purchasing an additional 121 shares during the period. Legacy Trust lifted its position in shares of UFP Industries by 1.1% in the 1st quarter. Legacy Trust now owns 11,009 shares of the construction company’s stock worth $1,354,000 after purchasing an additional 124 shares during the period. Finally, Assetmark Inc. lifted its position in shares of UFP Industries by 17.3% in the 4th quarter. Assetmark Inc. now owns 873 shares of the construction company’s stock worth $110,000 after purchasing an additional 129 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

UFPI stock traded up $1.68 during midday trading on Friday, hitting $120.14. 175,646 shares of the stock traded hands, compared to its average volume of 260,500. The firm has a market cap of $7.42 billion, a P/E ratio of 14.94 and a beta of 1.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.37. The stock’s fifty day simple moving average is $117.47 and its 200-day simple moving average is $116.25. UFP Industries, Inc. has a 1-year low of $77.47 and a 1-year high of $128.65.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.62 by $0.34. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The firm’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the business earned $1.98 earnings per share. On average, analysts expect that UFP Industries, Inc. will post 7.53 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, June 3rd. UFP Industries’s payout ratio is 16.42%.

Insider Buying and Selling at UFP Industries

In other news, insider David A. Tutas sold 3,038 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total value of $365,197.98. Following the transaction, the insider now directly owns 21,374 shares of the company’s stock, valued at $2,569,368.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Matthew J. Missad sold 5,018 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the transaction, the chief executive officer now directly owns 363,328 shares of the company’s stock, valued at $41,437,558.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Tutas sold 3,038 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $120.21, for a total transaction of $365,197.98. Following the completion of the transaction, the insider now directly owns 21,374 shares in the company, valued at $2,569,368.54. The disclosure for this sale can be found here. Insiders have sold a total of 25,980 shares of company stock valued at $3,052,415 over the last ninety days. Corporate insiders own 2.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on UFPI shares. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Benchmark decreased their target price on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Stifel Nicolaus increased their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Wedbush reissued a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, UFP Industries currently has a consensus rating of “Moderate Buy” and an average price target of $116.50.

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.