Caxton Associates LLP Takes Position in UFP Industries, Inc. $UFPI

Caxton Associates LLP bought a new position in UFP Industries, Inc. (NASDAQ:UFPI) during the 2nd quarter, Holdings Channel reports. The fund bought 11,059 shares of the construction company’s stock, valued at approximately $1,099,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of UFP Industries by 222.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,382 shares of the construction company’s stock worth $1,230,000 after acquiring an additional 8,537 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of UFP Industries by 3.6% in the second quarter. SkyView Investment Advisors LLC now owns 8,747 shares of the construction company’s stock valued at $873,000 after purchasing an additional 307 shares in the last quarter. Corient Private Wealth LLC increased its position in UFP Industries by 94.5% in the second quarter. Corient Private Wealth LLC now owns 15,106 shares of the construction company’s stock worth $1,501,000 after purchasing an additional 7,338 shares during the last quarter. Vident Advisory LLC increased its position in UFP Industries by 15.8% in the second quarter. Vident Advisory LLC now owns 2,991 shares of the construction company’s stock worth $297,000 after purchasing an additional 409 shares during the last quarter. Finally, Wasatch Advisors LP raised its stake in UFP Industries by 5.1% during the second quarter. Wasatch Advisors LP now owns 1,408,538 shares of the construction company’s stock valued at $139,952,000 after purchasing an additional 67,849 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

Insider Activity

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

UFP Industries Price Performance

NASDAQ UFPI opened at $92.42 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. The stock has a market capitalization of $5.38 billion, a P/E ratio of 17.08 and a beta of 1.49. The business’s fifty day moving average is $91.28 and its two-hundred day moving average is $96.84. UFP Industries, Inc. has a 1 year low of $87.11 and a 1 year high of $126.46.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.18%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.64 EPS. On average, research analysts forecast 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. Shareholders of record on Monday, December 1st were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. UFP Industries’s dividend payout ratio (DPR) is presently 25.88%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on UFPI. Zacks Research cut shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. Stifel Nicolaus set a $98.00 price objective on UFP Industries in a research note on Tuesday, December 2nd. Finally, DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $112.00 in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, UFP Industries currently has an average rating of “Hold” and a consensus price target of $114.25.

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.