UFP Industries, Inc. (NASDAQ:UFPI) Position Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in UFP Industries, Inc. (NASDAQ:UFPIGet Rating) by 9.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 47,423 shares of the construction company’s stock after acquiring an additional 4,250 shares during the period. State of Alaska Department of Revenue’s holdings in UFP Industries were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in UFPI. Baystate Wealth Management LLC raised its stake in UFP Industries by 55.0% during the 1st quarter. Baystate Wealth Management LLC now owns 541 shares of the construction company’s stock valued at $42,000 after acquiring an additional 192 shares in the last quarter. Archer Investment Corp bought a new stake in UFP Industries during the 1st quarter valued at $56,000. Quadrant Capital Group LLC raised its stake in UFP Industries by 61.2% during the 1st quarter. Quadrant Capital Group LLC now owns 769 shares of the construction company’s stock valued at $59,000 after acquiring an additional 292 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in UFP Industries during the 1st quarter valued at $62,000. Finally, Covestor Ltd raised its stake in UFP Industries by 21.1% during the 1st quarter. Covestor Ltd now owns 1,184 shares of the construction company’s stock valued at $91,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UFPI. DA Davidson lifted their price target on UFP Industries from $90.00 to $101.00 in a research report on Friday, July 22nd. Wedbush lifted their price target on UFP Industries to $108.00 in a research report on Friday, July 22nd. StockNews.com upgraded UFP Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Benchmark lifted their price target on UFP Industries to $110.00 in a research report on Monday, July 25th. Finally, Stifel Nicolaus lifted their price target on UFP Industries from $95.00 to $100.00 in a research report on Friday, July 22nd.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $71.50 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.88 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 6.89 and a beta of 1.56. The stock’s fifty day simple moving average is $82.17 and its 200 day simple moving average is $78.47. UFP Industries, Inc. has a 52-week low of $64.13 and a 52-week high of $94.80.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, August 31st. UFP Industries’s payout ratio is 9.64%.

Insider Buying and Selling

In related news, CFO Michael R. Cole sold 3,554 shares of UFP Industries stock in a transaction on Monday, July 25th. The stock was sold at an average price of $84.57, for a total value of $300,561.78. Following the transaction, the chief financial officer now directly owns 160,727 shares in the company, valued at approximately $13,592,682.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Michael R. Cole sold 3,554 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $84.57, for a total value of $300,561.78. Following the completion of the sale, the chief financial officer now owns 160,727 shares of the company’s stock, valued at $13,592,682.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Patrick M. Webster sold 27,996 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $90.73, for a total value of $2,540,077.08. Following the completion of the sale, the chief operating officer now directly owns 236,055 shares of the company’s stock, valued at approximately $21,417,270.15. The disclosure for this sale can be found here. Insiders have sold 48,595 shares of company stock worth $4,406,273 in the last three months. 3.74% of the stock is currently owned by insiders.

UFP Industries Profile

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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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