QRG Capital Management Inc. Cuts Stock Holdings in UFP Industries, Inc. $UFPI

QRG Capital Management Inc. trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 77.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,803 shares of the construction company’s stock after selling 29,388 shares during the quarter. QRG Capital Management Inc.’s holdings in UFP Industries were worth $823,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after acquiring an additional 114 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of UFP Industries by 24.5% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock valued at $52,000 after buying an additional 102 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of UFP Industries by 90.9% in the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after acquiring an additional 259 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of UFP Industries in the second quarter valued at $59,000. Finally, AlphaQuest LLC purchased a new stake in UFP Industries during the 2nd quarter worth about $91,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

Shares of UFPI stock opened at $107.68 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. UFP Industries, Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $119.83. The company has a market capitalization of $6.27 billion, a P/E ratio of 19.90 and a beta of 1.49. The stock has a 50 day moving average price of $94.37 and a two-hundred day moving average price of $96.52.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.18%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 earnings per share. Analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

Insider Activity

In other news, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries 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 sale, the chairman directly owned 310,533 shares in the company, valued at approximately $28,649,774.58. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael G. Wooldridge sold 1,192 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total value of $111,368.56. Following the transaction, the director owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. This represents a 7.50% decrease in their position. The SEC filing for this sale provides additional information. 2.56% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on UFPI shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research report on Thursday, October 30th. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Monday. Stifel Nicolaus set a $98.00 price target on shares of UFP Industries in a research report on Tuesday, December 2nd. Finally, DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $112.00 in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, UFP Industries currently has a consensus rating of “Hold” and a consensus price target of $114.25.

About UFP Industries

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.