UFP Industries, Inc. $UFPI Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 5.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 210,687 shares of the construction company’s stock after selling 12,936 shares during the period. Rhumbline Advisers’ holdings in UFP Industries were worth $19,697,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in UFPI. Geneos Wealth Management Inc. grew its position in shares of UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after purchasing an additional 114 shares during the period. Winnow Wealth LLC acquired a new stake in UFP Industries in the 3rd quarter worth about $51,000. Caitong International Asset Management Co. Ltd grew its holdings in UFP Industries by 24.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock valued at $52,000 after buying an additional 102 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of UFP Industries by 90.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock valued at $54,000 after acquiring an additional 259 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of UFP Industries during the 2nd quarter worth about $91,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Insider Transactions at UFP Industries

In other news, Chairman Matthew J. Missad sold 11,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the sale, the chairman owned 310,533 shares of the company’s stock, valued at $28,649,774.58. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total value of $111,368.56. Following the completion of the sale, the director owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. This trade represents a 7.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.56% of the company’s stock.

UFP Industries Stock Performance

Shares of UFPI stock opened at $111.85 on Wednesday. The company’s fifty day simple moving average is $101.48 and its 200-day simple moving average is $97.35. UFP Industries, Inc. has a 52 week low of $87.11 and a 52 week high of $118.00. The company has a current ratio of 4.49, a quick ratio of 3.23 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.52 billion, a PE ratio of 20.67 and a beta of 1.49.

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.3%. This is a boost from UFP Industries’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, March 2nd. UFP Industries’s dividend payout ratio is 25.88%.

Wall Street Analyst Weigh In

UFPI has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $112.00 in a report on Friday, October 31st. Finally, Stifel Nicolaus set a $98.00 target price on UFP Industries in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $114.25.

UFP Industries Company Profile

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.