Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 21.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,000 shares of the construction company’s stock after selling 21,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in UFP Industries were worth $9,595,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in UFPI. Charles Schwab Investment Management Inc. increased its position in shares of UFP Industries by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 753,559 shares of the construction company’s stock valued at $94,609,000 after purchasing an additional 4,300 shares during the last quarter. Norges Bank purchased a new stake in UFP Industries in the fourth quarter worth about $86,885,000. Wells Fargo & Company MN raised its stake in shares of UFP Industries by 871.3% in the fourth quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock worth $51,741,000 after buying an additional 369,687 shares during the period. Wasatch Advisors LP lifted its position in shares of UFP Industries by 5.2% during the 4th quarter. Wasatch Advisors LP now owns 334,351 shares of the construction company’s stock valued at $41,978,000 after buying an additional 16,486 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of UFP Industries by 21.0% during the 4th quarter. First Trust Advisors LP now owns 291,228 shares of the construction company’s stock valued at $36,564,000 after acquiring an additional 50,537 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UFPI. Benchmark reduced their price objective on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and an average target price of $116.50.

Insider Activity

In other news, Director Bruce A. Merino sold 16,472 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total value of $1,941,719.36. Following the transaction, the director now directly owns 7,107 shares in the company, valued at $837,773.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Bruce A. Merino sold 16,472 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the transaction, the director now owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick M. Benton sold 11,725 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the sale, the insider now owns 97,729 shares of the company’s stock, valued at approximately $11,265,221.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,687 shares of company stock valued at $3,831,653. 2.58% of the stock is currently owned by company insiders.

UFP Industries Trading Up 5.8 %

NASDAQ:UFPI traded up $6.94 during mid-day trading on Thursday, hitting $126.22. 179,491 shares of the stock traded hands, compared to its average volume of 286,149. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52 week low of $90.62 and a 52 week high of $128.65. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 14.84 and a beta of 1.40. The firm’s 50 day moving average is $116.00 and its two-hundred day moving average is $116.13.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. UFP Industries’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the company earned $1.98 EPS. On average, equities research analysts predict that UFP Industries, Inc. will post 7.53 earnings per share for the current year.

UFP Industries Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.