Public Employees Retirement System of Ohio Makes New Investment in UFP Industries, Inc. (NASDAQ:UFPI)

Public Employees Retirement System of Ohio acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,936 shares of the construction company’s stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Kestra Advisory Services LLC increased its stake in shares of UFP Industries by 1.1% during the third quarter. Kestra Advisory Services LLC now owns 9,805 shares of the construction company’s stock worth $1,004,000 after purchasing an additional 103 shares in the last quarter. Arizona State Retirement System increased its stake in shares of UFP Industries by 0.8% during the third quarter. Arizona State Retirement System now owns 17,680 shares of the construction company’s stock worth $1,810,000 after purchasing an additional 134 shares in the last quarter. Advisor Partners II LLC increased its stake in shares of UFP Industries by 3.3% during the fourth quarter. Advisor Partners II LLC now owns 4,597 shares of the construction company’s stock worth $364,000 after purchasing an additional 146 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of UFP Industries by 3.3% during the first quarter. Mackenzie Financial Corp now owns 4,771 shares of the construction company’s stock worth $368,000 after purchasing an additional 152 shares in the last quarter. Finally, Westover Capital Advisors LLC increased its stake in shares of UFP Industries by 3.0% during the third quarter. Westover Capital Advisors LLC now owns 5,420 shares of the construction company’s stock worth $555,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on UFPI shares. Wedbush reissued a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a research note on Thursday, February 22nd. Benchmark upped their price objective on shares of UFP Industries from $120.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Stifel Nicolaus upped their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, StockNews.com raised shares of UFP Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total transaction of $572,302.90. Following the sale, the chief executive officer now directly owns 363,328 shares in the company, valued at approximately $41,437,558.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.58% of the stock is owned by company insiders.

UFP Industries Stock Performance

UFP Industries stock opened at $121.79 on Thursday. The firm has a 50 day simple moving average of $115.58 and a 200-day simple moving average of $111.16. UFP Industries, Inc. has a 1-year low of $75.65 and a 1-year high of $128.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 15.11 and a beta of 1.48.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.06). UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the company posted $2.10 earnings per share. The business’s revenue was down 20.3% compared to the same quarter last year. On average, analysts expect that UFP Industries, Inc. will post 7.39 EPS for the current year.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.33 per share. The ex-dividend date was Thursday, February 29th. This is a positive change from UFP Industries’s previous quarterly dividend of $0.20. This represents a $1.32 dividend on an annualized basis and a yield of 1.08%. UFP Industries’s dividend payout ratio is 16.38%.

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.