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

New York State Common Retirement Fund trimmed its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,714 shares of the construction company’s stock after selling 302 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of UFP Industries worth $4,361,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. boosted its position in UFP Industries by 39.8% during the fourth quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock worth $69,000 after purchasing an additional 175 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of UFP Industries in the third quarter valued at $94,000. Millburn Ridgefield Corp purchased a new stake in shares of UFP Industries in the third quarter valued at $140,000. Blue Trust Inc. lifted its position in shares of UFP Industries by 62.1% in the fourth quarter. Blue Trust Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after acquiring an additional 688 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of UFP Industries in the third quarter valued at $210,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

UFP Industries stock opened at $107.00 on Friday. The firm has a market capitalization of $6.50 billion, a P/E ratio of 15.81 and a beta of 1.45. The stock has a fifty day moving average price of $113.85 and a 200 day moving average price of $122.75. UFP Industries, Inc. has a 52 week low of $105.29 and a 52 week high of $141.33. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. Equities research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.31%. UFP Industries’s dividend payout ratio is currently 20.68%.

Insiders Place Their Bets

In other news, Director William G. Currie sold 5,700 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the sale, the director now owns 61,140 shares in the company, valued at approximately $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on UFPI shares. Benchmark restated a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a research report on Wednesday, February 19th. Wedbush reiterated an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a research note on Monday, November 4th. Finally, StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.00.

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.