Profund Advisors LLC trimmed its position in UFP Industries, Inc. (NASDAQ:UFPI – Free Report) by 19.8% during the first quarter, Holdings Channel.com reports. The firm owned 3,276 shares of the construction company’s stock after selling 808 shares during the period. Profund Advisors LLC’s holdings in UFP Industries were worth $260,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UFPI. Global Retirement Partners LLC lifted its holdings in UFP Industries by 683.3% in the 1st quarter. Global Retirement Partners LLC now owns 329 shares of the construction company’s stock valued at $27,000 after purchasing an additional 287 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of UFP Industries during the 4th quarter worth about $59,000. Point72 Hong Kong Ltd purchased a new position in shares of UFP Industries during the 1st quarter worth about $62,000. Belpointe Asset Management LLC purchased a new position in shares of UFP Industries during the 4th quarter worth about $73,000. Finally, Byrne Asset Management LLC purchased a new position in shares of UFP Industries during the 1st quarter worth about $74,000. 79.45% of the stock is currently owned by hedge funds and other institutional investors.
UFP Industries Trading Down 0.9 %
NASDAQ UFPI opened at $101.89 on Friday. UFP Industries, Inc. has a one year low of $66.17 and a one year high of $107.57. The company’s 50 day moving average price is $100.66 and its 200 day moving average price is $88.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.87 and a current ratio of 4.34. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 11.20 and a beta of 1.52.
UFP Industries Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.30 dividend. This is a positive change from UFP Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.20 annualized dividend and a yield of 1.18%. UFP Industries’s dividend payout ratio (DPR) is presently 13.19%.
Insider Buying and Selling at UFP Industries
In other UFP Industries news, Director Bruce A. Merino sold 8,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $88.36, for a total value of $706,880.00. Following the completion of the sale, the director now owns 22,312 shares of the company’s stock, valued at $1,971,488.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other UFP Industries news, Director Kuras Mary Tuuk sold 9,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $100.70, for a total value of $906,300.00. Following the completion of the sale, the director now owns 9,521 shares of the company’s stock, valued at $958,764.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce A. Merino sold 8,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $88.36, for a total transaction of $706,880.00. Following the completion of the sale, the director now directly owns 22,312 shares of the company’s stock, valued at approximately $1,971,488.32. The disclosure for this sale can be found here. 3.55% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
UFPI has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and set a $120.00 price objective on shares of UFP Industries in a report on Monday, August 21st. StockNews.com initiated coverage on shares of UFP Industries in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, BMO Capital Markets increased their price objective on shares of UFP Industries from $95.00 to $100.00 in a report on Tuesday, May 16th.
Get Our Latest Stock Analysis on UFP Industries
UFP Industries Company 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.
Featured Articles
- Five stocks we like better than UFP Industries
- How to Invest in Apparel Stocks
- These 3 Wood Stocks are about to go on Discount
- Best Restaurant Stocks to Invest in Now
- Same Coin, Different Sides: 2 Observability Stocks Reverse Ways
- Stock Dividend Cuts Happen Are You Ready?
- 3 Stocks Awaiting Winter Winds of Opportunity
Want to see what other hedge funds are holding UFPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UFP Industries, Inc. (NASDAQ:UFPI – Free Report).
Receive News & Ratings for UFP Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UFP Industries and related companies with MarketBeat.com's FREE daily email newsletter.
