State of Michigan Retirement System Sells 100 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

State of Michigan Retirement System decreased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,400 shares of the construction company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in UFP Industries were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in UFPI. Smartleaf Asset Management LLC grew its position in shares of UFP Industries by 1,683.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after purchasing an additional 505 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in UFP Industries by 357.8% in the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock worth $60,000 after purchasing an additional 415 shares during the period. Principal Securities Inc. grew its holdings in UFP Industries by 39.8% during the 4th quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock valued at $69,000 after buying an additional 175 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of UFP Industries during the fourth quarter valued at about $106,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of UFP Industries in the third quarter worth about $140,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Insider Activity at UFP Industries

In other UFP Industries news, Director William G. Currie sold 5,700 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the transaction, the director now directly owns 61,140 shares in the company, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.58% of the stock is currently owned by insiders.

Analyst Ratings Changes

UFPI has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Trading Up 1.7 %

Shares of UFP Industries stock opened at $109.13 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. UFP Industries, Inc. has a 1 year low of $102.35 and a 1 year high of $141.33. The firm has a market cap of $6.62 billion, a PE ratio of 16.12 and a beta of 1.52. The company has a 50 day simple moving average of $113.02 and a two-hundred day simple moving average of $122.27.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.28%. UFP Industries’s dividend payout ratio is 20.68%.

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.