Argent Capital Management LLC Boosts Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Argent Capital Management LLC lifted its position in UFP Industries, Inc. (NASDAQ:UFPI) by 35.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,306 shares of the construction company’s stock after acquiring an additional 3,241 shares during the period. Argent Capital Management LLC’s holdings in UFP Industries were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Choreo LLC acquired a new stake in shares of UFP Industries during the second quarter worth about $218,000. Headlands Technologies LLC acquired a new stake in UFP Industries during the 2nd quarter valued at approximately $29,000. American Century Companies Inc. lifted its stake in UFP Industries by 9.9% during the 2nd quarter. American Century Companies Inc. now owns 223,108 shares of the construction company’s stock valued at $24,988,000 after acquiring an additional 20,123 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of UFP Industries by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,239 shares of the construction company’s stock valued at $1,035,000 after acquiring an additional 849 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of UFP Industries by 8.4% in the second quarter. Renaissance Technologies LLC now owns 135,200 shares of the construction company’s stock worth $15,142,000 after acquiring an additional 10,491 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Insider Transactions at UFP Industries

In other UFP Industries news, Director William G. Currie sold 5,700 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $126.59, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Company insiders own 2.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com raised shares of UFP Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wedbush reissued an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $148.00.

UFP Industries Stock Performance

Shares of UFP Industries stock opened at $117.57 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 16.17 and a beta of 1.45. The business has a 50-day moving average of $123.87 and a 200 day moving average of $123.69. UFP Industries, Inc. has a 12 month low of $107.25 and a 12 month high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $2.10 earnings per share. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 6.88 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Monday, December 2nd. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

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.