VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Position in UFP Industries, Inc. $UFPI

Key Points

• Virginia Retirement Systems acquired a new stake in UFP Industries, purchasing 13,019 shares worth approximately $1.294 million during the 2nd quarter of the year.
• UFP Industries reported earnings of $1.70 per share for the last quarter, missing estimates by $0.25 with revenues of $1.84 billion.
• Wall Street analysts have rated UFP Industries' stock as a "Hold," with an average price target of $124.25.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,019 shares of the construction company's stock, valued at approximately $1,294,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in UFP Industries during the 1st quarter valued at about $36,000. Caitong International Asset Management Co. Ltd increased its holdings in UFP Industries by 39.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock valued at $45,000 after acquiring an additional 119 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in UFP Industries during the 2nd quarter valued at about $59,000. Signaturefd LLC increased its holdings in UFP Industries by 222.5% during the 1st quarter. Signaturefd LLC now owns 816 shares of the construction company's stock valued at $87,000 after acquiring an additional 563 shares in the last quarter. Finally, Covestor Ltd increased its holdings in UFP Industries by 20.4% during the 1st quarter. Covestor Ltd now owns 886 shares of the construction company's stock valued at $94,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on UFPI shares. Loop Capital started coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 target price for the company. Weiss Ratings restated a "hold (c)" rating on shares of UFP Industries in a report on Wednesday, October 8th. Zacks Research upgraded shares of UFP Industries from a "strong sell" rating to a "hold" rating in a report on Friday, October 17th. Finally, Stifel Nicolaus set a $95.00 target price on shares of UFP Industries and gave the company a "hold" rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $124.25.

UFP Industries Price Performance

UFP Industries stock opened at $91.78 on Thursday. UFP Industries, Inc. has a 1 year low of $88.99 and a 1 year high of $141.33. The firm has a 50 day moving average price of $96.89 and a 200 day moving average price of $99.77. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 15.93 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25). The company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. UFP Industries's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Sell-side analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

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.

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