Alps Advisors Inc. Boosts Position in UFP Industries, Inc. $UFPI

Alps Advisors Inc. grew its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 46.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,493 shares of the construction company’s stock after buying an additional 26,331 shares during the period. Alps Advisors Inc. owned 0.14% of UFP Industries worth $7,712,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after acquiring an additional 114 shares during the period. Winnow Wealth LLC purchased a new position in shares of UFP Industries during the 3rd quarter valued at $51,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of UFP Industries by 24.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock worth $52,000 after purchasing an additional 102 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of UFP Industries by 90.9% in the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after buying an additional 259 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of UFP Industries in the second quarter worth $59,000. 81.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UFPI. Stifel Nicolaus set a $98.00 target price on UFP Industries in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. DA Davidson raised shares of UFP Industries from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $112.00 in a research note on Friday, October 31st. Finally, Zacks Research upgraded shares of 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $114.25.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $114.19 on Monday. The company has a quick ratio of 3.23, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. The stock has a market cap of $6.65 billion, a PE ratio of 21.11 and a beta of 1.49. The company’s fifty day moving average is $98.20 and its 200 day moving average is $96.72. UFP Industries, Inc. has a 52 week low of $87.11 and a 52 week high of $117.64.

Insider Activity at UFP Industries

In related news, Chairman Matthew J. Missad sold 11,000 shares of the company’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 sale, the chairman directly owned 310,533 shares in the company, valued at $28,649,774.58. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael G. Wooldridge sold 1,192 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the sale, the director directly owned 14,697 shares in the company, valued at approximately $1,373,140.71. This trade represents a 7.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.56% of the company’s stock.

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.