Narwhal Capital Management Sells 5,032 Shares of UFP Industries, Inc. $UFPI

Narwhal Capital Management cut its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 9.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,287 shares of the construction company’s stock after selling 5,032 shares during the period. Narwhal Capital Management owned about 0.08% of UFP Industries worth $4,608,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. SG Americas Securities LLC raised its stake in UFP Industries by 7.6% during the third quarter. SG Americas Securities LLC now owns 3,878 shares of the construction company’s stock worth $363,000 after acquiring an additional 275 shares in the last quarter. apricus wealth LLC bought a new stake in shares of UFP Industries in the 3rd quarter worth about $214,000. Allspring Global Investments Holdings LLC grew its holdings in shares of UFP Industries by 1.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,223,441 shares of the construction company’s stock worth $113,743,000 after purchasing an additional 15,648 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in UFP Industries during the 3rd quarter valued at about $41,962,000. Finally, CWM LLC lifted its holdings in UFP Industries by 2.4% during the 3rd quarter. CWM LLC now owns 6,992 shares of the construction company’s stock valued at $654,000 after purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Matthew J. Missad sold 11,000 shares of the company’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available through this link. Also, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total value of $111,368.56. Following the completion of the sale, the director owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. The trade was a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.56% of the company’s stock.

UFP Industries Price Performance

Shares of UFPI stock opened at $103.09 on Friday. UFP Industries, Inc. has a 1 year low of $87.11 and a 1 year high of $120.00. The company has a current ratio of 4.49, a quick ratio of 3.23 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $92.12 and its 200-day moving average is $96.38. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 19.06 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI) last issued 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). UFP Industries had a net margin of 5.00% and a return on equity of 10.18%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business earned $1.64 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Sell-side analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders 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 dividend yield of 1.4%. UFP Industries’s payout ratio is presently 25.88%.

Wall Street Analyst Weigh In

Several analysts have weighed in on UFPI shares. Stifel Nicolaus set a $98.00 price objective on shares of UFP Industries in a research note on Tuesday, December 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. Zacks Research lowered UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. Finally, DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and lifted 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $114.25.

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.