Strs Ohio Buys 800 Shares of UFP Industries, Inc. $UFPI

Strs Ohio lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 5.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,800 shares of the construction company’s stock after acquiring an additional 800 shares during the period. Strs Ohio’s holdings in UFP Industries were worth $1,570,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of UFP Industries in the first quarter valued at about $36,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of UFP Industries by 39.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock worth $45,000 after buying an additional 119 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of UFP Industries in the second quarter worth approximately $59,000. Signaturefd LLC lifted its stake in shares of UFP Industries by 222.5% in the first quarter. Signaturefd LLC now owns 816 shares of the construction company’s stock worth $87,000 after buying an additional 563 shares in the last quarter. Finally, Covestor Ltd increased its holdings in UFP Industries by 20.4% during the first quarter. Covestor Ltd now owns 886 shares of the construction company’s stock valued at $94,000 after buying an additional 150 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DA Davidson raised shares of UFP Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $112.00 in a research note on Friday, October 31st. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. Stifel Nicolaus set a $95.00 price target on shares of UFP Industries and gave the stock a “hold” rating in a report on Wednesday, October 8th. Loop Capital began coverage on UFP Industries in a report on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.50.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $91.58 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The business’s fifty day moving average price is $94.92 and its 200 day moving average price is $98.82. The firm has a market capitalization of $5.36 billion, a PE ratio of 16.93 and a beta of 1.45. UFP Industries, Inc. has a 12 month low of $88.78 and a 12 month high of $141.33.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business earned $1.64 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, December 1st. UFP Industries’s payout ratio is currently 25.88%.

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.