Retirement Systems of Alabama Trims Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Retirement Systems of Alabama cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,002 shares of the construction company’s stock after selling 2,218 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of UFP Industries worth $9,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of UFP Industries by 72.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,997 shares of the construction company’s stock worth $2,128,000 after buying an additional 7,998 shares during the period. Blue Trust Inc. lifted its stake in UFP Industries by 131.4% during the 2nd quarter. Blue Trust Inc. now owns 870 shares of the construction company’s stock worth $107,000 after acquiring an additional 494 shares in the last quarter. Raymond James & Associates boosted its holdings in UFP Industries by 16.2% during the 2nd quarter. Raymond James & Associates now owns 209,085 shares of the construction company’s stock valued at $23,417,000 after acquiring an additional 29,221 shares during the period. Fifth Third Bancorp grew its position in UFP Industries by 6.1% in the 2nd quarter. Fifth Third Bancorp now owns 7,440 shares of the construction company’s stock valued at $833,000 after acquiring an additional 427 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in UFP Industries during the second quarter worth about $211,000. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UFPI. Wedbush restated an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Insider Buying and Selling at UFP Industries

In other news, Director William G. Currie sold 5,700 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the sale, the director now directly owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the transaction, the chief executive officer now owns 314,450 shares in the company, valued at $41,202,383.50. This represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by insiders.

UFP Industries Stock Down 1.7 %

Shares of UFP Industries stock opened at $124.64 on Tuesday. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52-week low of $107.49 and a 52-week high of $141.33. The company has a market capitalization of $7.57 billion, a P/E ratio of 17.14 and a beta of 1.41. The company has a 50 day moving average of $131.83 and a 200 day moving average of $124.00.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. As a group, research analysts forecast that UFP Industries, Inc. will post 6.88 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Monday, December 2nd. UFP Industries’s dividend payout ratio (DPR) is 18.16%.

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.