Envestnet Asset Management Inc. Sells 9,450 Shares of UFP Industries, Inc. $UFPI

Envestnet Asset Management Inc. trimmed its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,045 shares of the construction company’s stock after selling 9,450 shares during the quarter. Envestnet Asset Management Inc. owned about 0.21% of UFP Industries worth $11,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of UFPI. Royal Bank of Canada lifted its position in UFP Industries by 3.0% during the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock valued at $6,597,000 after acquiring an additional 1,798 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in UFP Industries by 8.1% in the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock worth $317,000 after purchasing an additional 221 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of UFP Industries by 10.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock worth $13,831,000 after purchasing an additional 12,043 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of UFP Industries during the second quarter worth $355,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of UFP Industries during the 2nd quarter valued at $1,294,000. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Trading Down 2.4%

UFP Industries stock opened at $111.85 on Wednesday. The stock has a 50-day moving average price of $101.48 and a 200 day moving average price of $97.35. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of 20.67 and a beta of 1.49. UFP Industries, Inc. has a 52 week low of $87.11 and a 52 week high of $118.00. The company has a quick ratio of 3.23, a current ratio of 4.49 and a debt-to-equity ratio of 0.07.

UFP Industries Increases Dividend

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chairman directly owned 310,533 shares in the company, valued at $28,649,774.58. The trade was a 3.42% 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, 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 value of $111,368.56. Following the sale, the director directly owned 14,697 shares in the company, valued at $1,373,140.71. This represents a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is owned by corporate insiders.

UFP Industries 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.