Arizona State Retirement System Decreases Position in UFP Industries, Inc. (NASDAQ:UFPI)

Arizona State Retirement System trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,294 shares of the construction company’s stock after selling 386 shares during the period. Arizona State Retirement System’s holdings in UFP Industries were worth $2,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of UFP Industries by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,378,757 shares of the construction company’s stock valued at $532,450,000 after acquiring an additional 33,825 shares during the last quarter. State Street Corp boosted its stake in shares of UFP Industries by 1.9% during the second quarter. State Street Corp now owns 2,095,833 shares of the construction company’s stock valued at $203,401,000 after purchasing an additional 39,896 shares during the period. Victory Capital Management Inc. grew its holdings in shares of UFP Industries by 25.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,714,394 shares of the construction company’s stock worth $135,866,000 after purchasing an additional 348,158 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of UFP Industries by 716.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock worth $159,876,000 after buying an additional 1,370,105 shares during the period. Finally, Geode Capital Management LLC raised its holdings in UFP Industries by 8.8% during the 1st quarter. Geode Capital Management LLC now owns 1,258,702 shares of the construction company’s stock valued at $100,701,000 after buying an additional 102,125 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

UFP Industries Trading Up 1.9 %

Shares of UFPI opened at $116.93 on Friday. UFP Industries, Inc. has a 1-year low of $76.01 and a 1-year high of $128.65. The company has a current ratio of 4.41, a quick ratio of 3.12 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $116.52 and its 200-day moving average price is $112.42. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 14.51 and a beta of 1.49.

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

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.13%. This is a boost from UFP Industries’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 29th. UFP Industries’s dividend payout ratio is presently 16.38%.

Insiders Place Their Bets

In other news, CEO Matthew J. Missad sold 5,018 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the sale, the chief executive officer now directly owns 363,328 shares of the company’s stock, valued at approximately $41,437,558.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UFPI has been the topic of a number of recent analyst reports. Benchmark raised their price target on shares of UFP Industries from $120.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Wedbush reaffirmed a “neutral” rating and set a $102.00 price target on shares of UFP Industries in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus increased their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

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.