Voya Investment Management LLC Has $1.01 Million Holdings in UFP Industries, Inc. $UFPI

Voya Investment Management LLC trimmed its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 33.9% during the third quarter, HoldingsChannel reports. 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.

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

Insider Buying and Selling at UFP Industries

In other news, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries stock in a transaction dated Thursday, December 11th. The stock was 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 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 legal filing with the SEC, which can be accessed through this link. Also, Director Michael G. Wooldridge sold 1,192 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total value of $111,368.56. Following the transaction, the director directly owned 14,697 shares of the company’s stock, valued at $1,373,140.71. The trade was a 7.50% 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.

UFP Industries Stock Performance

Shares of UFPI opened at $92.10 on Wednesday. UFP Industries, Inc. has a 52-week low of $87.11 and a 52-week high of $120.00. The stock’s 50-day simple moving average is $91.67 and its 200 day simple moving average is $96.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 17.02 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.08). The company 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. Research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.