Meritage Portfolio Management Acquires 489 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Meritage Portfolio Management raised its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,435 shares of the construction company’s stock after purchasing an additional 489 shares during the quarter. Meritage Portfolio Management’s holdings in UFP Industries were worth $500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Greenleaf Trust bought a new stake in shares of UFP Industries in the 4th quarter worth $424,000. Copeland Capital Management LLC grew its stake in shares of UFP Industries by 0.3% in the 4th quarter. Copeland Capital Management LLC now owns 548,104 shares of the construction company’s stock worth $61,744,000 after acquiring an additional 1,907 shares in the last quarter. Highland Capital Management LLC grew its stake in shares of UFP Industries by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 2,222 shares of the construction company’s stock worth $250,000 after acquiring an additional 138 shares in the last quarter. Blue Trust Inc. grew its stake in shares of UFP Industries by 62.1% in the 4th quarter. Blue Trust Inc. now owns 1,796 shares of the construction company’s stock worth $202,000 after acquiring an additional 688 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of UFP Industries by 15.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,903 shares of the construction company’s stock worth $890,000 after acquiring an additional 1,074 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Insider Buying and Selling at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the sale, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William G. Currie sold 5,700 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the sale, the director now directly owns 61,140 shares in the company, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.58% of the company’s stock.

Wall Street Analysts Forecast Growth

UFPI has been the subject of several research reports. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wedbush restated an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Price Performance

NASDAQ UFPI opened at $116.93 on Friday. The company has a market cap of $7.10 billion, a PE ratio of 16.08 and a beta of 1.45. UFP Industries, Inc. has a 52 week low of $107.25 and a 52 week high of $141.33. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $118.73 and its two-hundred day simple moving average is $123.90.

UFP Industries Company 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.