VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in UFP Industries, Inc. $UFPI

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the 2nd quarter, Holdings Channel reports. The firm bought 7,060 shares of the construction company’s stock, valued at approximately $641,000.

Other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in shares of UFP Industries by 8,982.8% in the second quarter. California State Teachers Retirement System now owns 5,932,672 shares of the construction company’s stock worth $538,331,000 after acquiring an additional 5,867,354 shares during the period. Ameritas Advisory Services LLC bought a new position in UFP Industries during the second quarter valued at approximately $60,000. Henrickson Nauta Wealth Advisors Inc. lifted its position in UFP Industries by 10.6% during the second quarter. Henrickson Nauta Wealth Advisors Inc. now owns 26,001 shares of the construction company’s stock valued at $2,359,000 after purchasing an additional 2,483 shares during the period. Nykredit A S bought a new position in UFP Industries during the second quarter valued at approximately $220,000. Finally, Two Sigma Securities LLC bought a new stake in UFP Industries in the 2nd quarter worth approximately $306,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Up 0.6%

UFPI opened at $81.03 on Tuesday. The firm’s 50 day simple moving average is $86.85 and its two-hundred day simple moving average is $88.22. The company has a market capitalization of $4.47 billion, a PE ratio of 18.58 and a beta of 1.22. UFP Industries, Inc. has a 1-year low of $77.89 and a 1-year high of $118.00. The company has a current ratio of 3.98, a quick ratio of 2.64 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. As a group, equities analysts forecast that UFP Industries, Inc. will post 4.51 EPS for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. UFP Industries’s payout ratio is currently 33.03%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings raised UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Finally, Stifel Nicolaus set a $90.00 price objective on UFP Industries and gave the company a “hold” rating in a research report on Monday, August 24th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $104.50.

UFP Industries Profile

UFP Industries, Inc is a manufacturer and distributor of wood, composite and other products serving the construction, industrial and retail sectors. The company operates through businesses focused on supplying materials and finished products for residential and commercial construction, outdoor living, manufactured housing, packaging and industrial applications.

Its product offerings include pressure-treated lumber, engineered wood components, decking, fencing, lawn and garden products, trusses, wood pallets, crates and other custom packaging solutions.