Wesbanco Bank Inc. Sells 503 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Wesbanco Bank Inc. cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,332 shares of the construction company’s stock after selling 503 shares during the period. Wesbanco Bank Inc.’s holdings in UFP Industries were worth $488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its holdings in UFP Industries by 233.2% in the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock valued at $729,000 after purchasing an additional 4,595 shares during the period. Sei Investments Co. grew its position in shares of UFP Industries by 1.4% in the 2nd quarter. Sei Investments Co. now owns 80,305 shares of the construction company’s stock valued at $8,994,000 after buying an additional 1,145 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of UFP Industries by 58.7% in the second quarter. ProShare Advisors LLC now owns 21,928 shares of the construction company’s stock valued at $2,456,000 after buying an additional 8,112 shares during the period. Point72 DIFC Ltd acquired a new position in shares of UFP Industries in the second quarter worth approximately $230,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in UFP Industries by 289.5% in the second quarter. Cubist Systematic Strategies LLC now owns 56,966 shares of the construction company’s stock valued at $6,380,000 after acquiring an additional 42,341 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at UFP Industries

In other UFP Industries news, Director William G. Currie sold 5,700 shares of the business’s stock in a transaction on Friday, December 13th. The shares were 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 in the company, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Missad sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 314,450 shares in the company, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is owned by insiders.

UFP Industries Stock Down 0.8 %

Shares of NASDAQ UFPI opened at $116.75 on Friday. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The firm has a market cap of $7.09 billion, a PE ratio of 16.06 and a beta of 1.45. The company’s fifty day simple moving average is $121.66 and its 200 day simple moving average is $123.99. UFP Industries, Inc. has a 12-month low of $107.25 and a 12-month high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued its 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). 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 prior year, the business earned $2.10 earnings per share. The business’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 6.88 earnings per share for the current fiscal year.

UFP Industries 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.