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Bank of New York Mellon Corp Has $52.85 Million Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Defense World · Sep 5, 2022 04:41

Bank of New York Mellon Corp boosted its position in UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 0.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 684,895 shares of the construction company's stock after acquiring an additional 2,053 shares during the quarter. Bank of New York Mellon Corp's holdings in UFP Industries were worth $52,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of UFPI. Raymond James & Associates grew its position in UFP Industries by 1.9% in the 4th quarter. Raymond James & Associates now owns 36,920 shares of the construction company's stock worth $3,397,000 after purchasing an additional 703 shares during the last quarter. Brinker Capital Investments LLC acquired a new stake in UFP Industries in the 4th quarter worth $236,000. Raymond James Financial Services Advisors Inc. grew its position in UFP Industries by 9.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,567 shares of the construction company's stock worth $1,432,000 after purchasing an additional 1,312 shares during the last quarter. First Republic Investment Management Inc. grew its position in UFP Industries by 17.1% in the 4th quarter. First Republic Investment Management Inc. now owns 6,672 shares of the construction company's stock worth $614,000 after purchasing an additional 972 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in UFP Industries by 16.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,288 shares of the construction company's stock worth $118,000 after purchasing an additional 179 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at UFP Industries

In other UFP Industries news, insider David A. Tutas sold 1,107 shares of the firm's stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $85.39, for a total value of $94,526.73. Following the completion of the sale, the insider now owns 15,274 shares in the company, valued at approximately $1,304,246.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other UFP Industries news, insider David A. Tutas sold 1,107 shares of the firm's stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $85.39, for a total value of $94,526.73. Following the completion of the sale, the insider now owns 15,274 shares in the company, valued at approximately $1,304,246.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael R. Cole sold 3,554 shares of the firm's stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $84.57, for a total transaction of $300,561.78. Following the completion of the sale, the chief financial officer now owns 160,727 shares of the company's stock, valued at approximately $13,592,682.39. The disclosure for this sale can be found here. Insiders sold 48,595 shares of company stock valued at $4,406,273 in the last ninety days. Insiders own 3.74% of the company's stock.

UFP Industries Trading Down 2.2 %

Shares of UFPI stock opened at $77.11 on Monday. UFP Industries, Inc. has a 12-month low of $64.13 and a 12-month high of $94.80. The company has a market capitalization of $4.75 billion, a P/E ratio of 7.44 and a beta of 1.53. The firm has a 50-day moving average price of $80.54 and a 200 day moving average price of $79.35. The company has a quick ratio of 1.54, a current ratio of 2.88 and a debt-to-equity ratio of 0.12.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date is Wednesday, August 31st. UFP Industries's dividend payout ratio is currently 9.64%.

Wall Street Analyst Weigh In

UFPI has been the subject of a number of analyst reports. DA Davidson raised their price objective on shares of UFP Industries from $90.00 to $101.00 in a report on Friday, July 22nd. StockNews.com raised shares of UFP Industries from a "hold" rating to a "buy" rating in a report on Monday, July 25th. Stifel Nicolaus raised their price objective on shares of UFP Industries from $95.00 to $100.00 in a report on Friday, July 22nd. Benchmark raised their price objective on shares of UFP Industries to $110.00 in a report on Monday, July 25th. Finally, Wedbush raised their price objective on shares of UFP Industries to $108.00 in a report on Friday, July 22nd.

UFP Industries Profile

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UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. It operates through Retail, Industrial, and Construction segments. The Retail segment offers preserved and unpreserved dimensional lumber; and outdoor living products, including wood and wood composite decking and related accessories, decorative lawn, garden, craft, and hobby products.