Meeder Asset Management Inc. Reduces Position in UFP Industries, Inc. (NASDAQ:UFPI)

Meeder Asset Management Inc. trimmed its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 72.5% during the third quarter, HoldingsChannel reports. The firm owned 3,997 shares of the construction company’s stock after selling 10,559 shares during the period. Meeder Asset Management Inc.’s holdings in UFP Industries were worth $524,000 at the end of the most recent reporting period.

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

UFP Industries Stock Performance

NASDAQ:UFPI opened at $128.13 on Wednesday. UFP Industries, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $139.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The company has a 50 day moving average price of $130.05 and a 200 day moving average price of $122.22. The stock has a market capitalization of $7.78 billion, a P/E ratio of 17.62 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate 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 company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. Equities research analysts forecast that UFP Industries, Inc. will post 7.01 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.03%. UFP Industries’s dividend payout ratio is presently 18.16%.

Analyst Upgrades and Downgrades

UFPI has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Stifel Nicolaus increased their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Benchmark lifted their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets increased their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.