UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 8.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,731 shares of the construction company’s stock after selling 10,565 shares during the period. California Public Employees Retirement System’s holdings in UFP Industries were worth $12,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in UFPI. Smartleaf Asset Management LLC lifted its holdings in shares of UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after buying an additional 505 shares during the period. Jones Financial Companies Lllp lifted its holdings in UFP Industries by 357.8% in the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after acquiring an additional 415 shares during the period. Principal Securities Inc. boosted its position in UFP Industries by 39.8% in the 4th quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock worth $69,000 after purchasing an additional 175 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of UFP Industries during the 4th quarter worth approximately $106,000. Finally, Blue Trust Inc. increased its holdings in shares of UFP Industries by 62.1% during the 4th quarter. Blue Trust Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 688 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UFPI has been the topic of several analyst reports. Benchmark restated a “buy” rating and set a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

UFP Industries Stock Performance

UFP Industries stock opened at $106.44 on Friday. The firm has a 50 day simple moving average of $110.50 and a 200-day simple moving average of $120.64. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 15.72 and a beta of 1.45. 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 $100.58 and a 1-year high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data 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). The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. On average, analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.35 per share. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.32%. UFP Industries’s dividend payout ratio is presently 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.