UFP Industries, Inc. $UFPI Stock Holdings Lowered by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 16.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 208,619 shares of the construction company’s stock after selling 40,642 shares during the period. Allianz Asset Management GmbH owned about 0.36% of UFP Industries worth $19,504,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State of Wyoming boosted its stake in shares of UFP Industries by 337.9% during the 3rd quarter. State of Wyoming now owns 10,434 shares of the construction company’s stock worth $975,000 after acquiring an additional 8,051 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of UFP Industries by 7.6% during the third quarter. Thrivent Financial for Lutherans now owns 507,764 shares of the construction company’s stock valued at $47,471,000 after purchasing an additional 35,920 shares during the last quarter. Winnow Wealth LLC purchased a new stake in shares of UFP Industries during the third quarter valued at $51,000. Bryn Mawr Trust Advisors LLC boosted its position in shares of UFP Industries by 15.6% in the 3rd quarter. Bryn Mawr Trust Advisors LLC now owns 2,354 shares of the construction company’s stock valued at $220,000 after purchasing an additional 317 shares during the period. Finally, AlphaQuest LLC increased its stake in UFP Industries by 822.7% in the 3rd quarter. AlphaQuest LLC now owns 8,480 shares of the construction company’s stock worth $793,000 after purchasing an additional 7,561 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the sale, the director directly owned 14,697 shares in the company, valued at $1,373,140.71. The trade was a 7.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Matthew J. Missad sold 11,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the transaction, the chairman owned 310,533 shares in the company, valued at $28,649,774.58. This represents a 3.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on UFPI shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Stifel Nicolaus set a $98.00 target price on shares of UFP Industries in a research note on Tuesday, December 2nd. Finally, DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $112.00 in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $114.25.

UFP Industries Stock Up 1.3%

UFPI stock opened at $114.19 on Friday. The company has a 50 day moving average of $98.20 and a two-hundred day moving average of $96.82. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 21.11 and a beta of 1.49. UFP Industries, Inc. has a 12-month low of $87.11 and a 12-month high of $117.64. The company has a quick ratio of 3.23, a current ratio of 4.49 and a debt-to-equity ratio of 0.07.

UFP Industries Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.