Retirement Systems of Alabama Increases Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Retirement Systems of Alabama grew its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,623 shares of the construction company’s stock after purchasing an additional 206 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of UFP Industries worth $9,548,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in UFPI. Charles Schwab Investment Management Inc. raised its stake in UFP Industries by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 753,559 shares of the construction company’s stock valued at $94,609,000 after purchasing an additional 4,300 shares in the last quarter. Norges Bank purchased a new stake in shares of UFP Industries during the 4th quarter valued at about $86,885,000. Wells Fargo & Company MN raised its position in shares of UFP Industries by 871.3% during the 4th quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock valued at $51,741,000 after buying an additional 369,687 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of UFP Industries by 5.2% in the 4th quarter. Wasatch Advisors LP now owns 334,351 shares of the construction company’s stock valued at $41,978,000 after acquiring an additional 16,486 shares during the last quarter. Finally, First Trust Advisors LP grew its position in UFP Industries by 21.0% in the fourth quarter. First Trust Advisors LP now owns 291,228 shares of the construction company’s stock worth $36,564,000 after acquiring an additional 50,537 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

UFP Industries Trading Down 1.6 %

Shares of UFPI stock traded down $1.76 on Friday, reaching $107.65. 199,669 shares of the company’s stock were exchanged, compared to its average volume of 288,119. The company’s fifty day simple moving average is $115.95 and its 200 day simple moving average is $116.81. The stock has a market capitalization of $6.65 billion, a PE ratio of 13.61 and a beta of 1.40. The company has a current ratio of 4.79, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52 week low of $90.62 and a 52 week high of $128.65.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. The business’s revenue was down 10.1% on a year-over-year basis. As a group, analysts forecast that UFP Industries, Inc. will post 7.53 EPS for the current year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.32 annualized dividend and a yield of 1.23%. UFP Industries’s payout ratio is currently 16.42%.

Insider Buying and Selling at UFP Industries

In other news, Director Bruce A. Merino sold 16,472 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the transaction, the director now owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider David A. Tutas sold 3,038 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $120.21, for a total transaction of $365,197.98. Following the completion of the sale, the insider now directly owns 21,374 shares in the company, valued at approximately $2,569,368.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce A. Merino sold 16,472 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the sale, the director now directly owns 7,107 shares of the company’s stock, valued at $837,773.16. The disclosure for this sale can be found here. Insiders sold a total of 32,687 shares of company stock valued at $3,831,653 in the last ninety days. Corporate insiders own 2.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on UFPI shares. Benchmark lowered their price objective on UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. StockNews.com upgraded UFP Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.50.

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.