Hancock Whitney Corp Cuts Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Hancock Whitney Corp trimmed its position in UFP Industries, Inc. (NASDAQ:UFPI) by 4.3% in the third quarter, HoldingsChannel reports. The firm owned 2,831 shares of the construction company’s stock after selling 128 shares during the quarter. Hancock Whitney Corp’s holdings in UFP Industries were worth $371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its holdings in shares of UFP Industries by 299.5% in the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock valued at $687,000 after acquiring an additional 4,597 shares in the last quarter. Hsbc Holdings PLC boosted its position in UFP Industries by 233.2% in the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock worth $729,000 after purchasing an additional 4,595 shares during the last quarter. Raymond James & Associates grew its stake in UFP Industries by 16.2% in the 2nd quarter. Raymond James & Associates now owns 209,085 shares of the construction company’s stock valued at $23,417,000 after purchasing an additional 29,221 shares during the period. Blue Trust Inc. increased its position in shares of UFP Industries by 131.4% during the 2nd quarter. Blue Trust Inc. now owns 870 shares of the construction company’s stock valued at $107,000 after purchasing an additional 494 shares during the last quarter. Finally, Harfst & Associates Inc. raised its stake in shares of UFP Industries by 2.8% during the 2nd quarter. Harfst & Associates Inc. now owns 22,848 shares of the construction company’s stock worth $2,559,000 after purchasing an additional 627 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Benchmark increased their price target on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price target on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a research note on Monday, November 4th. Finally, StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Insider Activity at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.58% of the stock is owned by insiders.

UFP Industries Stock Down 1.7 %

Shares of NASDAQ UFPI opened at $135.26 on Thursday. 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 has a 50-day moving average of $131.39 and a 200-day moving average of $122.77. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 18.61 and a beta of 1.39. UFP Industries, Inc. has a 12 month low of $107.49 and a 12 month high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.25). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate 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 firm earned $2.10 earnings per share. Sell-side analysts expect that UFP Industries, Inc. will post 6.89 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 0.98%. 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.