California State Teachers Retirement System Raises Stake in UFP Industries, Inc. $UFPI

California State Teachers Retirement System increased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 18.5% in the first quarter, Holdings Channel reports. The firm owned 65,318 shares of the construction company’s stock after acquiring an additional 10,207 shares during the period. California State Teachers Retirement System’s holdings in UFP Industries were worth $6,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UFPI. Commonwealth Equity Services LLC raised its stake in shares of UFP Industries by 3.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company’s stock valued at $291,000 after acquiring an additional 92 shares during the period. Arkadios Wealth Advisors boosted its position in UFP Industries by 2.1% during the 4th quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company’s stock worth $423,000 after purchasing an additional 97 shares during the period. Geneos Wealth Management Inc. increased its holdings in UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after purchasing an additional 114 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in UFP Industries by 1.3% in the 4th quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company’s stock valued at $832,000 after purchasing an additional 114 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in UFP Industries by 1.1% in the fourth quarter. ProShare Advisors LLC now owns 12,972 shares of the construction company’s stock valued at $1,181,000 after purchasing an additional 145 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Stock Down 0.0%

NASDAQ:UFPI opened at $92.70 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 21.26 and a beta of 1.23. UFP Industries, Inc. has a one year low of $77.89 and a one year high of $118.00. The stock has a 50-day simple moving average of $86.01 and a 200 day simple moving average of $92.64.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.11. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.79 billion. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. Sell-side analysts predict that UFP Industries, Inc. will post 4.56 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 1st. UFP Industries’s dividend payout ratio is currently 33.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UFPI. Benchmark reduced their price objective on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Weiss Ratings lowered UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. DA Davidson dropped their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Finally, BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $103.75.

UFP Industries Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.