AlphaQuest LLC Acquires 7,561 Shares of UFP Industries, Inc. $UFPI

AlphaQuest LLC lifted its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 822.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,480 shares of the construction company’s stock after acquiring an additional 7,561 shares during the period. AlphaQuest LLC’s holdings in UFP Industries were worth $793,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UFPI. Allianz Asset Management GmbH grew its holdings in UFP Industries by 10.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock valued at $24,767,000 after buying an additional 23,152 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of UFP Industries by 4.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 166,340 shares of the construction company’s stock valued at $16,528,000 after acquiring an additional 7,063 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of UFP Industries by 0.7% during the 2nd quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company’s stock valued at $11,094,000 after acquiring an additional 759 shares during the last quarter. World Investment Advisors purchased a new position in shares of UFP Industries in the second quarter valued at $394,000. Finally, Caxton Associates LLP bought a new stake in UFP Industries in the second quarter worth $1,099,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other UFP Industries news, Director Michael G. Wooldridge sold 1,192 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total value of $111,368.56. Following the sale, the director owned 14,697 shares in the company, valued at $1,373,140.71. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Matthew J. Missad sold 11,000 shares of the business’s stock in a transaction on 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 $28,649,774.58. This represents a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.56% of the company’s stock.

UFP Industries Trading Up 2.8%

UFPI opened at $107.88 on Wednesday. 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 stock’s 50 day moving average price is $97.00 and its 200-day moving average price is $96.50. UFP Industries, Inc. has a one year low of $87.11 and a one year high of $118.35. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 19.94 and a beta of 1.49.

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.