New York State Common Retirement Fund Decreases Stake in UFP Industries, Inc. (NASDAQ:UFPI)

New York State Common Retirement Fund lessened its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 6.3% during the fourth quarter, HoldingsChannel reports. The fund owned 44,663 shares of the construction company’s stock after selling 2,993 shares during the period. New York State Common Retirement Fund’s holdings in UFP Industries were worth $5,607,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in shares of UFP Industries by 14.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,042 shares of the construction company’s stock valued at $1,233,000 after acquiring an additional 1,554 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in UFP Industries by 1.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,251 shares of the construction company’s stock worth $1,664,000 after purchasing an additional 234 shares during the last quarter. Raymond James & Associates boosted its position in UFP Industries by 59.6% during the third quarter. Raymond James & Associates now owns 80,677 shares of the construction company’s stock worth $8,261,000 after purchasing an additional 30,142 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in UFP Industries by 48.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,814 shares of the construction company’s stock valued at $595,000 after purchasing an additional 1,903 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of UFP Industries by 13.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,520 shares of the construction company’s stock valued at $1,282,000 after buying an additional 1,511 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on UFPI shares. Stifel Nicolaus boosted their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Benchmark dropped their price objective on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $102.00 target price on shares of UFP Industries in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $113.20.

Insider Activity at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.58% of the company’s stock.

UFP Industries Price Performance

UFP Industries stock opened at $116.65 on Friday. The stock has a market capitalization of $7.18 billion, a P/E ratio of 14.51 and a beta of 1.47. UFP Industries, Inc. has a 12-month low of $77.47 and a 12-month high of $128.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.12. The firm’s 50-day moving average is $115.89 and its two-hundred day moving average is $113.89.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 earnings per share. Equities analysts predict that UFP Industries, Inc. will post 7.37 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, May 31st. UFP Industries’s dividend payout ratio is currently 16.42%.

UFP Industries Company 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.