UFP Industries, Inc. (NASDAQ:UFPI) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,080 shares of the construction company’s stock after acquiring an additional 375 shares during the quarter. State of Alaska Department of Revenue’s holdings in UFP Industries were worth $928,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of UFPI. Fidelis Capital Partners LLC acquired a new position in shares of UFP Industries in the first quarter worth about $89,000. Jennison Associates LLC lifted its stake in shares of UFP Industries by 3.0% in the first quarter. Jennison Associates LLC now owns 9,207 shares of the construction company’s stock worth $1,133,000 after acquiring an additional 264 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of UFP Industries in the first quarter worth about $628,000. Texas Permanent School Fund Corp raised its stake in UFP Industries by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 54,098 shares of the construction company’s stock valued at $6,655,000 after buying an additional 700 shares in the last quarter. Finally, TFG Advisers LLC raised its stake in UFP Industries by 5.2% during the first quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock valued at $230,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

Shares of UFPI stock opened at $126.06 on Wednesday. UFP Industries, Inc. has a 12-month low of $100.25 and a 12-month high of $139.54. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 17.34 and a beta of 1.39. The business has a 50 day simple moving average of $126.87 and a 200 day simple moving average of $120.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $2.10 earnings per share. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that UFP Industries, Inc. will post 7.18 EPS for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s payout ratio is currently 18.16%.

Analyst Ratings Changes

Several analysts have issued reports on UFPI shares. Stifel Nicolaus upped their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets upped their price objective on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Benchmark upped their price objective on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research note on Monday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.