UFP Industries, Inc. (NASDAQ:UFPI) Position Reduced by Shell Asset Management Co.

Shell Asset Management Co. decreased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,357 shares of the construction company’s stock after selling 121 shares during the period. Shell Asset Management Co.’s holdings in UFP Industries were worth $413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in UFP Industries by 133.2% in the fourth quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock worth $23,623,000 after buying an additional 107,477 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in UFP Industries by 559.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 38,348 shares of the construction company’s stock worth $4,815,000 after buying an additional 32,534 shares during the last quarter. Pacer Advisors Inc. grew its position in UFP Industries by 31.4% in the fourth quarter. Pacer Advisors Inc. now owns 12,316 shares of the construction company’s stock worth $1,546,000 after buying an additional 2,941 shares during the last quarter. Blue Trust Inc. grew its position in UFP Industries by 25.6% in the fourth quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock worth $75,000 after buying an additional 121 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in UFP Industries by 46.2% in the fourth quarter. Global Retirement Partners LLC now owns 440 shares of the construction company’s stock worth $51,000 after buying an additional 139 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

Insider Buying and Selling

In related news, CFO Michael R. Cole sold 1,452 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $119.28, for a total value of $173,194.56. Following the completion of the sale, the chief financial officer now directly owns 165,155 shares of the company’s stock, valued at approximately $19,699,688.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Bruce A. Merino sold 16,472 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the completion of the sale, the director now directly owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael R. Cole sold 1,452 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $119.28, for a total value of $173,194.56. Following the sale, the chief financial officer now directly owns 165,155 shares of the company’s stock, valued at $19,699,688.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,687 shares of company stock valued at $3,831,653. Corporate insiders own 2.58% of the company’s stock.

UFP Industries Stock Performance

Shares of UFPI stock opened at $128.83 on Friday. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 16.02 and a beta of 1.40. UFP Industries, Inc. has a 1-year low of $90.62 and a 1-year high of $130.54. The company has a current ratio of 4.79, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $116.11 and its 200-day simple moving average is $116.19.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.98 EPS. On average, sell-side analysts predict that UFP Industries, Inc. will post 7.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on UFPI. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Benchmark decreased their price target on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.50.

UFP Industries Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.