New York State Common Retirement Fund Acquires 46,775 Shares of UFP Industries, Inc. $UFPI

New York State Common Retirement Fund boosted its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 117.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,589 shares of the construction company’s stock after acquiring an additional 46,775 shares during the quarter. New York State Common Retirement Fund owned 0.15% of UFP Industries worth $8,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of UFPI. Y Intercept Hong Kong Ltd bought a new position in shares of UFP Industries in the third quarter worth approximately $3,845,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of UFP Industries in the 3rd quarter worth $290,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of UFP Industries by 17.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,976 shares of the construction company’s stock valued at $1,120,000 after buying an additional 1,759 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of UFP Industries by 3.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 4,551 shares of the construction company’s stock valued at $426,000 after buying an additional 158 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of UFP Industries by 20.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 17,833 shares of the construction company’s stock worth $1,613,000 after acquiring an additional 3,033 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Up 5.0%

Shares of UFPI stock opened at $113.30 on Thursday. The business has a 50-day moving average of $97.39 and a 200 day moving average of $96.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 3.23. UFP Industries, Inc. has a 1-year low of $87.11 and a 1-year high of $118.35. The stock has a market capitalization of $6.60 billion, a PE ratio of 20.94 and a beta of 1.49.

Insiders Place Their Bets

In other news, 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the sale, the director owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. This represents a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

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