UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lowered its position in UFP Industries, Inc. (NASDAQ:UFPI) by 2.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,205 shares of the construction company’s stock after selling 135 shares during the period. Synovus Financial Corp’s holdings in UFP Industries were worth $814,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of UFPI. Hsbc Holdings PLC grew its stake in UFP Industries by 233.2% in the 2nd quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock valued at $729,000 after acquiring an additional 4,595 shares during the period. Raymond James & Associates grew its position in shares of UFP Industries by 16.2% in the second quarter. Raymond James & Associates now owns 209,085 shares of the construction company’s stock valued at $23,417,000 after purchasing an additional 29,221 shares during the period. Citigroup Inc. grew its position in shares of UFP Industries by 50.7% in the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock valued at $15,670,000 after purchasing an additional 40,162 shares during the period. Blue Trust Inc. increased its stake in shares of UFP Industries by 131.4% during the second quarter. Blue Trust Inc. now owns 870 shares of the construction company’s stock worth $107,000 after purchasing an additional 494 shares in the last quarter. Finally, Harfst & Associates Inc. raised its position in shares of UFP Industries by 2.8% during the 2nd quarter. Harfst & Associates Inc. now owns 22,848 shares of the construction company’s stock worth $2,559,000 after purchasing an additional 627 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on UFPI shares. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research note on Monday, November 4th. StockNews.com raised shares of UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Stock Performance

Shares of UFPI stock opened at $124.64 on Tuesday. The firm has a 50 day moving average of $131.83 and a two-hundred day moving average of $124.00. The stock has a market capitalization of $7.57 billion, a PE ratio of 17.14 and a beta of 1.41. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52 week low of $107.49 and a 52 week high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.10 earnings per share. On average, research analysts predict that UFP Industries, Inc. will post 6.88 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.33 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 1.06%. UFP Industries’s dividend payout ratio is currently 18.16%.

Insider Activity at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the transaction, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at $41,202,383.50. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction on Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at approximately $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is owned by corporate insiders.

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.