Texas Permanent School Fund Corp Acquires 700 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Texas Permanent School Fund Corp raised its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,098 shares of the construction company’s stock after acquiring an additional 700 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of UFP Industries worth $6,655,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of UFPI. Norges Bank acquired a new position in shares of UFP Industries in the fourth quarter valued at approximately $86,885,000. Wells Fargo & Company MN raised its stake in shares of UFP Industries by 871.3% during the fourth quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock valued at $51,741,000 after acquiring an additional 369,687 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of UFP Industries during the first quarter worth $18,245,000. Henrickson Nauta Wealth Advisors Inc. grew its stake in shares of UFP Industries by 82.3% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock worth $29,007,000 after purchasing an additional 114,166 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of UFP Industries by 133.2% in the fourth quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock worth $23,623,000 after purchasing an additional 107,477 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on UFPI shares. Benchmark decreased their price objective on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $116.50.

UFP Industries Stock Performance

UFPI stock traded up $2.58 during midday trading on Friday, hitting $119.17. The company’s stock had a trading volume of 27,713 shares, compared to its average volume of 285,488. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 14.50 and a beta of 1.40. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average price is $115.55 and its 200 day moving average price is $116.33. UFP Industries, Inc. has a 1 year low of $90.62 and a 1 year high of $128.65.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The company’s revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.98 EPS. On average, equities analysts forecast that UFP Industries, Inc. will post 7.53 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, June 3rd. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

Insider Buying and Selling at UFP Industries

In related news, Director Bruce A. Merino sold 16,472 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the sale, the director now owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Bruce A. Merino sold 16,472 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the completion of the transaction, the director now directly owns 7,107 shares in the company, valued at approximately $837,773.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick M. Benton sold 11,725 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total value of $1,351,540.75. Following the completion of the sale, the insider now owns 97,729 shares in the company, valued at approximately $11,265,221.83. The disclosure for this sale can be found here. Insiders have sold 32,687 shares of company stock valued at $3,831,653 in the last 90 days. 2.58% of the stock is currently owned by company insiders.

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.