New York State Teachers Retirement System Trims Position in UFP Industries, Inc. (NASDAQ:UFPI)

New York State Teachers Retirement System cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,347 shares of the construction company’s stock after selling 1,491 shares during the period. New York State Teachers Retirement System owned 0.14% of UFP Industries worth $11,723,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Foundry Partners LLC increased its stake in shares of UFP Industries by 13.1% during the first quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock valued at $4,811,000 after buying an additional 4,526 shares during the period. Nordea Investment Management AB increased its stake in shares of UFP Industries by 28.6% during the first quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock valued at $14,150,000 after buying an additional 25,508 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of UFP Industries by 299.5% during the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock valued at $687,000 after buying an additional 4,597 shares during the period. Acadian Asset Management LLC bought a new stake in shares of UFP Industries during the first quarter valued at approximately $1,214,000. Finally, Empowered Funds LLC boosted its position in shares of UFP Industries by 14.9% during the first quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after purchasing an additional 7,320 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Trading Up 0.6 %

UFP Industries stock opened at $123.08 on Friday. The company has a current ratio of 4.31, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $126.88 and its two-hundred day simple moving average is $120.61. UFP Industries, Inc. has a 12 month low of $96.72 and a 12 month high of $139.54. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 16.93 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $2.10 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, equities analysts predict that UFP Industries, Inc. will post 7.18 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s dividend payout ratio is currently 18.16%.

Analysts Set New Price Targets

UFPI has been the topic of several research reports. BMO Capital Markets lifted their price target on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Benchmark lifted their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wedbush upgraded UFP Industries from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $120.00 to $155.00 in a research report on Tuesday, October 8th. Finally, Stifel Nicolaus lifted their price target on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.