Rhumbline Advisers Cuts Stock Holdings in UFP Industries, Inc. $UFPI

Rhumbline Advisers lowered its position in UFP Industries, Inc. (NASDAQ:UFPI) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,687 shares of the construction company’s stock after selling 12,936 shares during the period. Rhumbline Advisers owned about 0.36% of UFP Industries worth $19,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UFPI. Royal Bank of Canada raised its stake in shares of UFP Industries by 3.0% during the 1st quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock worth $6,597,000 after buying an additional 1,798 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in UFP Industries by 8.1% during the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock worth $317,000 after acquiring an additional 221 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in UFP Industries by 10.3% in 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 acquiring an additional 12,043 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in UFP Industries in the second quarter valued at $355,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of UFP Industries during the 2nd quarter worth $1,294,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

Shares of UFPI opened at $111.85 on Wednesday. UFP Industries, Inc. has a 12-month low of $87.11 and a 12-month high of $118.00. The stock has a market cap of $6.52 billion, a P/E ratio of 20.67 and a beta of 1.49. 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 50-day moving average of $101.48 and a two-hundred day moving average of $97.35.

UFP Industries Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on UFPI shares. Stifel Nicolaus set a $98.00 price target on shares of UFP Industries in a research note on Tuesday, December 2nd. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. DA Davidson raised shares of UFP Industries from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $112.00 in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, UFP Industries has a consensus rating of “Hold” and a consensus price target of $114.25.

Insiders Place Their Bets

In related news, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries stock in a transaction dated Thursday, December 11th. The stock was 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 owned 310,533 shares in the company, valued at approximately $28,649,774.58. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the transaction, the director directly owned 14,697 shares of the company’s stock, valued at $1,373,140.71. The trade was a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is currently 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.