Cadence Bank Decreases Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Cadence Bank cut its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,133 shares of the construction company’s stock after selling 331 shares during the period. Cadence Bank’s holdings in UFP Industries were worth $2,510,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of UFP Industries by 300.0% in the third quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock valued at $25,000 after buying an additional 144 shares in the last quarter. Headlands Technologies LLC acquired a new stake in UFP Industries in the 2nd quarter valued at about $29,000. Signaturefd LLC increased its holdings in UFP Industries by 31.8% during the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after acquiring an additional 76 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of UFP Industries in the second quarter valued at approximately $56,000. Finally, GAMMA Investing LLC increased its stake in shares of UFP Industries by 84.2% during the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after purchasing an additional 234 shares in the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Benchmark upped their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus increased their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets boosted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Wedbush reissued an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Insider Transactions at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the sale, the chief executive officer now directly owns 314,450 shares in the company, valued at approximately $41,202,383.50. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.58% of the company’s stock.

UFP Industries Stock Performance

NASDAQ UFPI opened at $137.53 on Wednesday. The company has a market capitalization of $8.35 billion, a PE ratio of 18.92 and a beta of 1.39. UFP Industries, Inc. has a twelve month low of $107.49 and a twelve month high of $141.33. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $131.16 and its 200 day moving average price is $122.63.

UFP Industries (NASDAQ:UFPI) last issued 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). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $2.10 EPS. UFP Industries’s revenue was down 9.8% compared to the same quarter last year. On average, research analysts predict that UFP Industries, Inc. will post 6.89 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio is presently 18.16%.

About UFP Industries

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.