Narwhal Capital Management Sells 5,032 Shares of UFP Industries, Inc. $UFPI

Narwhal Capital Management decreased its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,287 shares of the construction company’s stock after selling 5,032 shares during the quarter. Narwhal Capital Management’s holdings in UFP Industries were worth $4,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position in shares of UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after acquiring an additional 114 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in UFP Industries by 24.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock valued at $52,000 after purchasing an additional 102 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in UFP Industries by 90.9% in the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after purchasing an additional 259 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of UFP Industries during the second quarter worth $59,000. Finally, AlphaQuest LLC acquired a new position in shares of UFP Industries in the 2nd quarter valued at $91,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Performance

Shares of UFP Industries stock opened at $103.09 on Friday. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 19.06 and a beta of 1.49. The stock’s 50-day moving average is $92.12 and its 200-day moving average is $96.38. UFP Industries, Inc. has a one year low of $87.11 and a one year high of $120.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 3.23.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.35 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. UFP Industries’s dividend payout ratio (DPR) is 25.88%.

Analyst Ratings Changes

UFPI has been the topic of several research analyst reports. Stifel Nicolaus set a $98.00 price objective on UFP Industries in a research note on Tuesday, December 2nd. Zacks Research lowered UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $112.00 in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $114.25.

Insiders Place Their Bets

In related news, Chairman Matthew J. Missad sold 11,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the transaction, the chairman owned 310,533 shares of the company’s stock, valued at approximately $28,649,774.58. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the sale, the director owned 14,697 shares in the company, valued at $1,373,140.71. The trade was a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.56% of the company’s stock.

UFP Industries 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.