Allianz Asset Management GmbH Has $19.50 Million Holdings in UFP Industries, Inc. $UFPI

Allianz Asset Management GmbH cut its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 16.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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’s holdings in UFP Industries were worth $19,504,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its stake in shares of 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 in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in UFP Industries by 24.5% in the 2nd 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 position 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 period. Winnow Wealth LLC acquired a new position in UFP Industries during the third quarter valued at approximately $51,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of UFP Industries in the second quarter valued at approximately $59,000. 81.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at UFP Industries

In other UFP Industries news, Director Michael G. Wooldridge sold 1,192 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total value of $111,368.56. Following the completion of the sale, the director owned 14,697 shares in the company, valued at approximately $1,373,140.71. This trade represents a 7.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 $28,649,774.58. The trade was a 3.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.56% of the company’s stock.

UFP Industries Stock Up 1.3%

Shares of UFPI opened at $114.19 on Friday. 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 company has a 50-day simple moving average of $98.20 and a 200-day simple moving average of $96.82. UFP Industries, Inc. has a 52 week low of $87.11 and a 52 week high of $117.64. The firm has a market capitalization of $6.65 billion, a P/E ratio of 21.11 and a beta of 1.49.

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.