Envestnet Asset Management Inc. Lowers Position in UFP Industries, Inc. $UFPI

Envestnet Asset Management Inc. decreased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,045 shares of the construction company’s stock after selling 9,450 shares during the quarter. Envestnet Asset Management Inc.’s holdings in UFP Industries were worth $11,317,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of UFP Industries during the 2nd quarter valued at about $74,905,000. Deprince Race & Zollo Inc. acquired a new position in UFP Industries in the 3rd quarter worth about $41,962,000. Boston Partners boosted its position in UFP Industries by 25.7% during the second quarter. Boston Partners now owns 1,847,503 shares of the construction company’s stock worth $183,569,000 after purchasing an additional 378,203 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in UFP Industries in the second quarter valued at approximately $20,151,000. Finally, Jane Street Group LLC increased its position in shares of UFP Industries by 121.9% in the second quarter. Jane Street Group LLC now owns 267,818 shares of the construction company’s stock valued at $26,610,000 after buying an additional 147,100 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at UFP Industries

In related news, Director Michael G. Wooldridge sold 1,192 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total transaction of $111,368.56. Following the transaction, the director directly owned 14,697 shares in the company, valued at approximately $1,373,140.71. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Matthew J. Missad sold 11,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the sale, the chairman directly owned 310,533 shares of the company’s stock, valued at approximately $28,649,774.58. This represents a 3.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Stifel Nicolaus set a $98.00 price target on shares of UFP Industries in a report on Tuesday, December 2nd. DA Davidson raised shares of UFP Industries from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $112.00 in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, UFP Industries currently has a consensus rating of “Hold” and a consensus price target of $114.25.

UFP Industries Stock Down 2.4%

NASDAQ UFPI opened at $111.85 on Wednesday. The business has a fifty day moving average price of $101.48 and a 200 day moving average price of $97.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. The company has a market cap of $6.52 billion, a P/E ratio of 20.67 and a beta of 1.49. UFP Industries, Inc. has a one year low of $87.11 and a one year high of $118.00.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.3%. UFP Industries’s payout ratio is currently 25.88%.

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.