Harbor Capital Advisors Inc. Lowers Position in UFP Industries, Inc. $UFPI

Harbor Capital Advisors Inc. trimmed its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 69.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,277 shares of the construction company’s stock after selling 9,748 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in UFP Industries were worth $400,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners increased its position in UFP Industries by 25.7% during the 2nd quarter. Boston Partners now owns 1,847,503 shares of the construction company’s stock worth $183,569,000 after purchasing an additional 378,203 shares during the period. Geode Capital Management LLC lifted its holdings in shares of UFP Industries by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,594,161 shares of the construction company’s stock valued at $158,413,000 after buying an additional 37,534 shares during the period. Wasatch Advisors LP boosted its stake in shares of UFP Industries by 5.1% in the second quarter. Wasatch Advisors LP now owns 1,408,538 shares of the construction company’s stock valued at $139,952,000 after buying an additional 67,849 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in UFP Industries by 14.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,207,793 shares of the construction company’s stock worth $127,386,000 after acquiring an additional 156,180 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in UFP Industries by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 790,648 shares of the construction company’s stock worth $78,559,000 after acquiring an additional 20,387 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Price Performance

UFP Industries stock opened at $92.83 on Monday. The firm has a market capitalization of $5.41 billion, a PE ratio of 17.16 and a beta of 1.49. UFP Industries, Inc. has a 52 week low of $87.11 and a 52 week high of $120.00. The firm’s 50-day simple moving average is $91.67 and its 200 day simple moving average is $96.54. The company has a quick ratio of 3.23, a current ratio of 4.49 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its earnings results 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 business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. The business’s revenue was down 5.4% on a year-over-year basis. On average, equities research analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.35 dividend. The ex-dividend date of this dividend 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 is presently 25.88%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other UFP Industries news, Director Michael G. Wooldridge sold 1,192 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the transaction, the director owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Matthew J. Missad sold 11,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was 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 directly 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 SEC filing for this sale provides additional information. 2.56% of the stock is currently owned by corporate insiders.

About UFP Industries

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.