State of New Jersey Common Pension Fund D Lowers Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

State of New Jersey Common Pension Fund D reduced its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,692 shares of the construction company’s stock after selling 3,449 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in UFP Industries were worth $3,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Wealth LLC purchased a new stake in UFP Industries in the fourth quarter valued at approximately $3,046,000. American Century Companies Inc. raised its stake in UFP Industries by 42.2% in the third quarter. American Century Companies Inc. now owns 252,270 shares of the construction company’s stock valued at $25,832,000 after purchasing an additional 74,852 shares in the last quarter. Van ECK Associates Corp raised its stake in UFP Industries by 42.8% in the third quarter. Van ECK Associates Corp now owns 14,167 shares of the construction company’s stock valued at $1,451,000 after purchasing an additional 4,246 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in UFP Industries by 257.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 17,438 shares of the construction company’s stock valued at $1,786,000 after acquiring an additional 12,553 shares during the last quarter. Finally, Raymond James & Associates grew its position in UFP Industries by 133.2% during the fourth quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock valued at $23,623,000 after acquiring an additional 107,477 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 5,018 shares of UFP Industries stock in a transaction on 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 owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.58% of the stock is currently owned by company insiders.

UFP Industries Stock Up 1.0 %

Shares of UFP Industries stock opened at $113.64 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.12 and a current ratio of 4.41. UFP Industries, Inc. has a 52-week low of $76.08 and a 52-week high of $128.65. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 14.10 and a beta of 1.49. The company’s 50 day moving average price is $115.76 and its 200-day moving average price is $113.22.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Tuesday, February 20th. The construction company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.06). UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business posted $2.10 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities research analysts forecast that UFP Industries, Inc. will post 7.4 EPS for the current year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.33 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 1.16%. This is a boost from UFP Industries’s previous quarterly dividend of $0.20. UFP Industries’s payout ratio is 16.38%.

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.