Shell Asset Management Co. Sells 1,039 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Shell Asset Management Co. decreased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPIGet Rating) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,047 shares of the construction company’s stock after selling 1,039 shares during the period. Shell Asset Management Co.’s holdings in UFP Industries were worth $544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brinker Capital Investments LLC acquired a new stake in shares of UFP Industries during the fourth quarter worth approximately $236,000. Quadrant Capital Group LLC increased its holdings in shares of UFP Industries by 143.4% during the fourth quarter. Quadrant Capital Group LLC now owns 477 shares of the construction company’s stock worth $44,000 after buying an additional 281 shares in the last quarter. MAI Capital Management increased its holdings in shares of UFP Industries by 5.2% during the fourth quarter. MAI Capital Management now owns 3,433 shares of the construction company’s stock worth $316,000 after buying an additional 169 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of UFP Industries by 15.6% during the fourth quarter. Van ECK Associates Corp now owns 1,501 shares of the construction company’s stock worth $138,000 after buying an additional 203 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of UFP Industries during the fourth quarter worth approximately $21,102,000. Institutional investors own 81.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on UFPI shares. Stifel Nicolaus raised their price objective on shares of UFP Industries from $95.00 to $100.00 in a report on Friday, July 22nd. BMO Capital Markets raised their price target on shares of UFP Industries from $82.00 to $88.00 and gave the company a “market perform” rating in a report on Tuesday, April 26th. DA Davidson raised their price target on shares of UFP Industries from $90.00 to $101.00 in a report on Friday, July 22nd. Wedbush raised their price target on shares of UFP Industries to $108.00 in a report on Friday, July 22nd. Finally, StockNews.com raised shares of UFP Industries from a “hold” rating to a “buy” rating in a report on Monday, July 25th.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 12,500 shares of UFP Industries stock in a transaction on Monday, August 1st. The shares were sold at an average price of $93.21, for a total transaction of $1,165,125.00. Following the completion of the sale, the chief executive officer now owns 317,709 shares of the company’s stock, valued at approximately $29,613,655.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other UFP Industries news, CEO Matthew J. Missad sold 12,500 shares of UFP Industries stock in a transaction on Monday, August 1st. The shares were sold at an average price of $93.21, for a total transaction of $1,165,125.00. Following the completion of the sale, the chief executive officer now owns 317,709 shares of the company’s stock, valued at approximately $29,613,655.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael R. Cole sold 3,438 shares of UFP Industries stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $89.00, for a total transaction of $305,982.00. Following the sale, the chief financial officer now directly owns 157,289 shares of the company’s stock, valued at approximately $13,998,721. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,258 shares of company stock valued at $3,822,315. Company insiders own 3.74% of the company’s stock.

UFP Industries Price Performance

UFPI opened at $89.75 on Wednesday. The company has a fifty day moving average price of $74.87 and a two-hundred day moving average price of $78.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.54 and a current ratio of 2.88. UFP Industries, Inc. has a 52 week low of $64.13 and a 52 week high of $94.80. The firm has a market capitalization of $5.63 billion, a PE ratio of 8.65 and a beta of 1.53.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, August 31st. UFP Industries’s dividend payout ratio is presently 9.64%.

About UFP Industries

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UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. It operates through Retail, Industrial, and Construction segments. The Retail segment offers preserved and unpreserved dimensional lumber; and outdoor living products, including wood and wood composite decking and related accessories, decorative lawn, garden, craft, and hobby products.

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Institutional Ownership by Quarter for UFP Industries (NASDAQ:UFPI)

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