Jennison Associates LLC Sells 3,488 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Jennison Associates LLC lowered its position in UFP Industries, Inc. (NASDAQ:UFPI) by 34.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,566 shares of the construction company’s stock after selling 3,488 shares during the quarter. Jennison Associates LLC’s holdings in UFP Industries were worth $740,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of UFPI. UMB Bank n.a. boosted its position in UFP Industries by 300.0% during the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock valued at $25,000 after acquiring an additional 144 shares in the last quarter. Signaturefd LLC boosted its position in UFP Industries by 31.8% during the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after acquiring an additional 76 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in UFP Industries during the 3rd quarter valued at $70,000. GAMMA Investing LLC boosted its position in UFP Industries by 25.8% during the 3rd quarter. GAMMA Investing LLC now owns 644 shares of the construction company’s stock valued at $84,000 after acquiring an additional 132 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in UFP Industries during the 3rd quarter valued at $94,000. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on UFPI. StockNews.com raised UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $148.00.

UFP Industries Price Performance

UFP Industries stock opened at $116.93 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 16.08 and a beta of 1.45. UFP Industries, Inc. has a 1-year low of $107.25 and a 1-year high of $141.33. The business has a fifty day moving average price of $118.73 and a 200-day moving average price of $123.90.

Insider Transactions at UFP Industries

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

About UFP Industries

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.