Louisiana State Employees Retirement System Buys New Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Louisiana State Employees Retirement System bought a new stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 17,400 shares of the construction company's stock, valued at approximately $2,185,000.

Several other hedge funds have also modified their holdings of the company. NewEdge Wealth LLC purchased a new stake in UFP Industries in the 4th quarter worth $3,046,000. Mutual of America Capital Management LLC raised its position in shares of UFP Industries by 1.0% during the 4th quarter. Mutual of America Capital Management LLC now owns 201,908 shares of the construction company's stock worth $25,350,000 after purchasing an additional 2,091 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in UFP Industries by 357.9% in the 4th quarter. Meeder Asset Management Inc. now owns 4,643 shares of the construction company's stock valued at $583,000 after buying an additional 3,629 shares in the last quarter. JLB & Associates Inc. boosted its holdings in UFP Industries by 46.9% in the 4th quarter. JLB & Associates Inc. now owns 4,571 shares of the construction company's stock worth $574,000 after buying an additional 1,460 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in UFP Industries by 46.2% during the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the construction company's stock worth $51,000 after buying an additional 139 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Trading Down 0.9 %

Shares of UFPI traded down $0.99 during trading on Thursday, reaching $110.65. 413,714 shares of the company traded hands, compared to its average volume of 279,506. The stock has a 50-day simple moving average of $116.32 and a 200-day simple moving average of $112.81. The stock has a market cap of $6.81 billion, a PE ratio of 13.73 and a beta of 1.49. UFP Industries, Inc. has a twelve month low of $76.01 and a twelve month high of $128.65. The company has a quick ratio of 3.12, a current ratio of 4.41 and a debt-to-equity ratio of 0.08.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.62 earnings per share for the quarter, missing analysts' consensus estimates of $1.68 by ($0.06). The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.61 billion. UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The business's revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 EPS. On average, analysts anticipate that UFP Industries, Inc. will post 7.39 earnings per share for the current year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from UFP Industries's previous quarterly dividend of $0.20. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.19%. UFP Industries's payout ratio is presently 16.38%.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 5,018 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the transaction, the chief executive officer now directly owns 363,328 shares in the company, valued at approximately $41,437,558.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on UFPI shares. Benchmark raised their target price on UFP Industries from $120.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, February 21st. Wedbush reissued a "neutral" rating and issued a $102.00 price target on shares of UFP Industries in a research note on Thursday, February 22nd. Stifel Nicolaus raised their price target on shares of UFP Industries from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Finally, StockNews.com cut UFP Industries from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $114.00.

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.