Louisiana State Employees Retirement System Acquires Shares of 16,900 UFP Industries, Inc. $UFPI

Louisiana State Employees Retirement System acquired a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 16,900 shares of the construction company’s stock, valued at approximately $1,557,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its stake in shares of UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after acquiring an additional 114 shares in the last quarter. Signaturefd LLC raised its stake in UFP Industries by 66.1% in the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock worth $35,000 after purchasing an additional 154 shares in the last quarter. Danske Bank A S raised its stake in UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. IFP Advisors Inc boosted its holdings in UFP Industries by 84.8% in the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after purchasing an additional 190 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in UFP Industries by 117.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock valued at $38,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. DA Davidson dropped their price target on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Stifel Nicolaus reduced their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a report on Tuesday, May 5th. Benchmark decreased their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.40.

UFP Industries Stock Performance

UFP Industries stock opened at $89.15 on Thursday. The business has a 50 day moving average of $85.43 and a 200-day moving average of $94.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. UFP Industries, Inc. has a 1 year low of $77.89 and a 1 year high of $118.00. The company has a market capitalization of $5.04 billion, a P/E ratio of 19.47 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts predict that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 1st. UFP Industries’s payout ratio is currently 31.44%.

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.