Voya Investment Management LLC Sells 5,542 Shares of UFP Industries, Inc. $UFPI

Voya Investment Management LLC lessened its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 33.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,796 shares of the construction company’s stock after selling 5,542 shares during the period. Voya Investment Management LLC’s holdings in UFP Industries were worth $1,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. boosted its position in UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after acquiring an additional 114 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in UFP Industries by 24.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock worth $52,000 after purchasing an additional 102 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in UFP Industries by 90.9% during the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after purchasing an additional 259 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in UFP Industries in the second quarter valued at $59,000. Finally, AlphaQuest LLC acquired a new stake in UFP Industries in the 2nd quarter valued at $91,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on UFPI shares. Stifel Nicolaus set a $98.00 price objective on shares of UFP Industries in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $112.00 in a research report on Friday, October 31st. Finally, Zacks Research lowered UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, UFP Industries has an average rating of “Hold” and a consensus target price of $114.25.

UFP Industries Price Performance

UFP Industries stock opened at $92.10 on Wednesday. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 17.02 and a beta of 1.49. The company has a current ratio of 4.49, a quick ratio of 3.23 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12 month low of $87.11 and a 12 month high of $120.00. The stock’s 50 day moving average is $91.67 and its 200-day moving average is $96.48.

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

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.35 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.40 annualized dividend and a yield of 1.5%. UFP Industries’s payout ratio is 25.88%.

Insider Transactions at UFP Industries

In other UFP Industries news, Director Michael G. Wooldridge sold 1,192 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total transaction of $111,368.56. Following the transaction, the director owned 14,697 shares in the company, valued at $1,373,140.71. This represents a 7.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the completion of the sale, the chairman owned 310,533 shares of the company’s stock, valued at approximately $28,649,774.58. The trade was a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.56% of the company’s stock.

UFP Industries Company 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.