New York State Teachers Retirement System Has $9.37 Million Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

New York State Teachers Retirement System reduced its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,201 shares of the construction company’s stock after selling 6,146 shares during the quarter. New York State Teachers Retirement System owned 0.14% of UFP Industries worth $9,373,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of UFP Industries by 31.8% during the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after purchasing an additional 76 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of UFP Industries during the 3rd quarter worth $70,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of UFP Industries during the 3rd quarter worth $94,000. Millburn Ridgefield Corp acquired a new stake in UFP Industries in the third quarter valued at about $140,000. Finally, Blue Trust Inc. boosted its stake in UFP Industries by 27.4% in the third quarter. Blue Trust Inc. now owns 1,108 shares of the construction company’s stock valued at $145,000 after buying an additional 238 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com raised UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.00.

UFP Industries Stock Performance

Shares of UFPI stock opened at $114.45 on Wednesday. The business’s 50-day moving average price is $115.84 and its 200-day moving average price is $123.25. UFP Industries, Inc. has a 12 month low of $107.25 and a 12 month high of $141.33. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 15.74 and a beta of 1.45. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date is Monday, March 3rd. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Insider Activity

In other news, Director William G. Currie sold 5,700 shares of the firm’s 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 transaction, the director now directly owns 61,140 shares in the company, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. 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.