Texas Permanent School Fund Corp Increases Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Texas Permanent School Fund Corp boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 1.3% during the 1st quarter, Holdings Channel reports. The fund owned 54,098 shares of the construction company’s stock after buying an additional 700 shares during the period. Texas Permanent School Fund Corp’s holdings in UFP Industries were worth $6,655,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new position in UFP Industries during the 4th quarter worth approximately $27,000. GAMMA Investing LLC purchased a new position in shares of UFP Industries during the 4th quarter valued at approximately $30,000. Rise Advisors LLC acquired a new position in shares of UFP Industries during the 1st quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new position in shares of UFP Industries during the first quarter valued at approximately $33,000. Finally, SRS Capital Advisors Inc. lifted its holdings in UFP Industries by 218.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Up 2.2 %

UFPI traded up $2.58 during mid-day trading on Friday, hitting $119.17. 27,713 shares of the stock were exchanged, compared to its average volume of 285,488. The company has a market cap of $7.36 billion, a PE ratio of 14.50 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. The firm’s fifty day moving average is $115.55 and its two-hundred day moving average is $116.33. UFP Industries, Inc. has a 1-year low of $90.62 and a 1-year high of $128.65.

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

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, June 3rd. UFP Industries’s payout ratio is presently 16.42%.

Insider Buying and Selling

In related news, insider Patrick M. Benton sold 11,725 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the transaction, the insider now owns 97,729 shares in the company, valued at $11,265,221.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Bruce A. Merino sold 16,472 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 7,107 shares in the company, valued at approximately $837,773.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick M. Benton sold 11,725 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the transaction, the insider now directly owns 97,729 shares in the company, valued at $11,265,221.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,687 shares of company stock worth $3,831,653. Company insiders own 2.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on UFPI. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Benchmark cut their price target on UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.50.

UFP Industries 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.