Principal Financial Group Inc. Has $12.36 Million Holdings in UFP Industries, Inc. $UFPI

Principal Financial Group Inc. decreased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,154 shares of the construction company’s stock after selling 6,410 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of UFP Industries worth $12,355,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of UFPI. Caitong International Asset Management Co. Ltd grew its position in shares of 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 valued at $52,000 after buying an additional 102 shares during the last quarter. Vista Finance LLC raised its position in shares of UFP Industries by 4.1% during the second quarter. Vista Finance LLC now owns 2,671 shares of the construction company’s stock worth $265,000 after acquiring an additional 104 shares during the last quarter. F m Investments LLC lifted its stake in shares of UFP Industries by 0.5% in the second quarter. F m Investments LLC now owns 22,459 shares of the construction company’s stock worth $2,232,000 after acquiring an additional 112 shares during the period. Geneos Wealth Management Inc. boosted its holdings 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. Finally, Arkadios Wealth Advisors increased its position in UFP Industries by 2.9% during the 2nd quarter. Arkadios Wealth Advisors now owns 4,393 shares of the construction company’s stock valued at $437,000 after purchasing an additional 123 shares during the period. 81.81% of the stock is owned by institutional investors.

UFP Industries Stock Performance

Shares of UFPI opened at $115.48 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 3.23. The stock has a 50-day moving average of $99.55 and a 200-day moving average of $97.00. The company has a market cap of $6.73 billion, a PE ratio of 21.35 and a beta of 1.49. UFP Industries, Inc. has a one year low of $87.11 and a one year high of $116.71.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UFPI. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Stifel Nicolaus set a $98.00 target price on shares of UFP Industries in a report on Tuesday, December 2nd. 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. 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $114.25.

Insider Activity

In other news, 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 sale, the chairman directly owned 310,533 shares of the company’s stock, valued at $28,649,774.58. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries 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 directly owned 14,697 shares in the company, valued at approximately $1,373,140.71. The trade was a 7.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.56% of the company’s stock.

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.