State of Alaska Department of Revenue Lowers Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

State of Alaska Department of Revenue trimmed its position in UFP Industries, Inc. (NASDAQ:UFPI) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,925 shares of the construction company’s stock after selling 155 shares during the quarter. State of Alaska Department of Revenue’s holdings in UFP Industries were worth $780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of UFP Industries by 13.4% in the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock worth $214,604,000 after purchasing an additional 193,891 shares during the period. Geode Capital Management LLC boosted its holdings in UFP Industries by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock worth $200,553,000 after buying an additional 14,857 shares during the period. Franklin Resources Inc. increased its stake in UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock worth $169,675,000 after buying an additional 188,969 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in UFP Industries by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock valued at $116,467,000 after acquiring an additional 32,555 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of UFP Industries by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock valued at $101,011,000 after acquiring an additional 4,006 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on UFPI. StockNews.com upgraded UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the completion of the transaction, the chief executive officer now owns 314,450 shares in the company, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William G. Currie sold 5,700 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the sale, the director now owns 61,140 shares in the company, valued at approximately $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by company insiders.

UFP Industries Trading Up 1.8 %

Shares of UFPI stock opened at $116.35 on Friday. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 16.00 and a beta of 1.45. UFP Industries, Inc. has a 12-month low of $107.25 and a 12-month high of $141.33. The stock’s 50-day moving average price is $116.51 and its 200-day moving average price is $123.52.

About UFP Industries

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.