SpiderRock Advisors LLC Purchases New Stake in UFP Industries, Inc. (NASDAQ:UFPI)

SpiderRock Advisors LLC acquired a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,553 shares of the construction company’s stock, valued at approximately $292,000.

Several other hedge funds have also recently bought and sold shares of the company. Vest Financial LLC increased its stake in UFP Industries by 275.6% in the first quarter. Vest Financial LLC now owns 7,204 shares of the construction company’s stock valued at $886,000 after acquiring an additional 5,286 shares during the last quarter. Argent Capital Management LLC grew its position in UFP Industries by 13.9% in the first quarter. Argent Capital Management LLC now owns 5,133 shares of the construction company’s stock valued at $631,000 after acquiring an additional 625 shares during the last quarter. Principal Financial Group Inc. raised its stake in UFP Industries by 1.4% during the first quarter. Principal Financial Group Inc. now owns 251,607 shares of the construction company’s stock worth $30,950,000 after acquiring an additional 3,444 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in UFP Industries by 10.4% in the 1st quarter. Verdence Capital Advisors LLC now owns 1,939 shares of the construction company’s stock valued at $238,000 after purchasing an additional 183 shares during the last quarter. Finally, Shaker Investments LLC OH bought a new stake in shares of UFP Industries during the first quarter worth $559,000. 81.81% of the stock is owned by institutional investors.

UFP Industries Trading Down 1.6 %

UFPI traded down $1.74 during midday trading on Friday, hitting $107.67. 76,484 shares of the company were exchanged, compared to its average volume of 287,157. The firm’s 50 day moving average price is $115.95 and its 200-day moving average price is $116.81. UFP Industries, Inc. has a 1-year low of $90.62 and a 1-year high of $128.65. The firm has a market capitalization of $6.65 billion, a P/E ratio of 13.61 and a beta of 1.40. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.07% and a net margin of 7.24%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 earnings per share. As a group, equities analysts forecast that UFP Industries, Inc. will post 7.53 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.23%. UFP Industries’s dividend payout ratio is presently 16.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UFPI. Benchmark reduced their price objective on UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. StockNews.com upgraded UFP Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $116.50.

Insider Activity

In related news, Director Bruce A. Merino sold 16,472 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the transaction, the director now directly owns 7,107 shares in the company, valued at $837,773.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Michael R. Cole sold 1,452 shares of UFP Industries stock in a transaction on Monday, May 13th. The stock was sold at an average price of $119.28, for a total transaction of $173,194.56. Following the sale, the chief financial officer now directly owns 165,155 shares in the company, valued at approximately $19,699,688.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce A. Merino sold 16,472 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the completion of the transaction, the director now owns 7,107 shares in the company, valued at $837,773.16. The disclosure for this sale can be found here. Insiders sold a total of 32,687 shares of company stock worth $3,831,653 over the last quarter. 2.58% of the stock is currently owned by corporate insiders.

UFP Industries Company 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.