Highland Capital Management LLC Acquires 138 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Highland Capital Management LLC grew its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 6.6% in the 4th quarter, HoldingsChannel reports. The firm owned 2,222 shares of the construction company’s stock after buying an additional 138 shares during the quarter. Highland Capital Management LLC’s holdings in UFP Industries were worth $250,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in UFP Industries by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock worth $82,847,000 after buying an additional 60,859 shares during the period. Citigroup Inc. raised its position in shares of UFP Industries by 50.7% in the 3rd quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock worth $15,670,000 after acquiring an additional 40,162 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of UFP Industries by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock worth $101,011,000 after purchasing an additional 4,006 shares during the last quarter. Seizert Capital Partners LLC boosted its position in UFP Industries by 85.5% during the third quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company’s stock valued at $4,543,000 after purchasing an additional 15,958 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in UFP Industries by 21.6% in the third quarter. Hantz Financial Services Inc. now owns 26,657 shares of the construction company’s stock valued at $3,498,000 after purchasing an additional 4,730 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Price Performance

Shares of UFPI stock opened at $115.65 on Friday. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 15.91 and a beta of 1.45. 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 stock’s 50-day simple moving average is $120.36 and its 200-day simple moving average is $124.09. UFP Industries, Inc. has a fifty-two week low of $107.25 and a fifty-two week high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued 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 company had revenue of $1.65 billion for 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 company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 EPS. As a group, equities analysts forecast that UFP Industries, Inc. will post 6.88 earnings per share for the current fiscal year.

Insider Activity

In other UFP Industries news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the sale, the director now owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their position. The sale 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 dated 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 completion of the transaction, the chief executive officer now directly owns 314,450 shares in the company, valued at $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.58% of the company’s stock.

Wall Street Analyst Weigh In

UFPI has been the topic of a number of recent analyst reports. Wedbush restated an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a report on Monday, November 4th. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.