Teacher Retirement System of Texas Acquires 11,639 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Teacher Retirement System of Texas boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,075 shares of the construction company’s stock after acquiring an additional 11,639 shares during the period. Teacher Retirement System of Texas owned approximately 0.13% of UFP Industries worth $8,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UFPI. Smartleaf Asset Management LLC lifted its holdings in UFP Industries by 1,683.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock worth $60,000 after acquiring an additional 505 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in UFP Industries by 357.8% during the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock worth $60,000 after acquiring an additional 415 shares in the last quarter. Principal Securities Inc. lifted its holdings in UFP Industries by 39.8% during the fourth quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock worth $69,000 after acquiring an additional 175 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in UFP Industries during the fourth quarter worth about $106,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of UFP Industries in the third quarter valued at about $140,000. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Price Performance

NASDAQ:UFPI opened at $107.50 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The stock’s 50-day simple moving average is $112.19 and its 200 day simple moving average is $121.26. The company has a market cap of $6.54 billion, a P/E ratio of 15.88 and a beta of 1.52. UFP Industries, Inc. has a 52-week low of $102.35 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s payout ratio is currently 20.68%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UFPI. StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark restated a “buy” rating and issued a $135.00 price target on shares of UFP Industries in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

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.