Texas Permanent School Fund Corp Lowers Position in UFP Industries, Inc. (NASDAQ:UFPI)

Texas Permanent School Fund Corp trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPIFree Report) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,541 shares of the construction company’s stock after selling 2,134 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of UFP Industries worth $5,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC purchased a new position in UFP Industries in the 2nd quarter valued at $44,000. Ronald Blue Trust Inc. boosted its holdings in shares of UFP Industries by 64.2% in the third quarter. Ronald Blue Trust Inc. now owns 473 shares of the construction company’s stock valued at $46,000 after acquiring an additional 185 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of UFP Industries in the fourth quarter valued at $59,000. Point72 Hong Kong Ltd purchased a new stake in UFP Industries during the 1st quarter worth about $62,000. Finally, Covestor Ltd grew its holdings in UFP Industries by 21.1% in the 1st quarter. Covestor Ltd now owns 1,184 shares of the construction company’s stock valued at $91,000 after buying an additional 206 shares during the period. 79.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on UFPI. DA Davidson downgraded UFP Industries from a “buy” rating to a “neutral” rating and lowered their price target for the company from $122.00 to $106.00 in a report on Wednesday, November 1st. Stifel Nicolaus upped their price objective on UFP Industries from $112.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Wedbush reaffirmed a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Check Out Our Latest Stock Report on UFP Industries

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $121.49 on Tuesday. The business’s 50 day moving average price is $118.64 and its two-hundred day moving average price is $108.25. The company has a market cap of $7.49 billion, a PE ratio of 14.23 and a beta of 1.49. The company has a quick ratio of 2.93, a current ratio of 4.16 and a debt-to-equity ratio of 0.09. UFP Industries, Inc. has a twelve month low of $75.01 and a twelve month high of $128.65.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, February 29th. This is an increase from UFP Industries’s previous quarterly dividend of $0.20. UFP Industries’s payout ratio is 14.05%.

About UFP Industries

(Free Report)

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.

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Institutional Ownership by Quarter for UFP Industries (NASDAQ:UFPI)

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