New York State Teachers Retirement System Sells 8,200 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Posted by Defense World Staff on Apr 15th, 2023

New York State Teachers Retirement System decreased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,738 shares of the construction company’s stock after selling 8,200 shares during the period. New York State Teachers Retirement System owned 0.18% of UFP Industries worth $9,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Arizona State Retirement System raised its stake in UFP Industries by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 17,048 shares of the construction company’s stock worth $1,230,000 after buying an additional 272 shares during the period. CX Institutional raised its stake in UFP Industries by 1,747.3% during the 3rd quarter. CX Institutional now owns 12,931 shares of the construction company’s stock worth $933,000 after buying an additional 12,231 shares during the period. Strs Ohio raised its stake in UFP Industries by 181.3% during the 3rd quarter. Strs Ohio now owns 21,100 shares of the construction company’s stock worth $1,522,000 after buying an additional 13,600 shares during the period. Ensign Peak Advisors Inc raised its stake in UFP Industries by 205.7% during the 3rd quarter. Ensign Peak Advisors Inc now owns 67,305 shares of the construction company’s stock worth $4,857,000 after buying an additional 45,285 shares during the period. Finally, BlackRock Inc. raised its stake in UFP Industries by 3.0% during the 3rd quarter. BlackRock Inc. now owns 10,532,771 shares of the construction company’s stock worth $760,045,000 after buying an additional 307,354 shares during the period. Institutional investors own 81.69% of the company’s stock.

Insider Activity

In other news, CFO Michael R. Cole sold 4,600 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $85.40, for a total value of $392,840.00. Following the completion of the transaction, the chief financial officer now directly owns 152,689 shares of the company’s stock, valued at $13,039,640.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Michael R. Cole sold 4,600 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $85.40, for a total value of $392,840.00. Following the completion of the transaction, the chief financial officer now directly owns 152,689 shares of the company’s stock, valued at $13,039,640.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Missad sold 10,000 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $83.90, for a total value of $839,000.00. Following the transaction, the chief executive officer now directly owns 380,845 shares of the company’s stock, valued at $31,952,895.50. The disclosure for this sale can be found here. Insiders sold a total of 84,591 shares of company stock valued at $7,106,975 over the last three months. Corporate insiders own 3.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on UFPI shares. StockNews.com initiated coverage on UFP Industries in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Benchmark increased their price objective on UFP Industries from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd.

UFP Industries Stock Performance

Shares of UFP Industries stock opened at $78.56 on Friday. The company has a market cap of $4.91 billion, a PE ratio of 7.15 and a beta of 1.48. UFP Industries, Inc. has a 52 week low of $64.13 and a 52 week high of $99.40. The business has a 50 day moving average price of $83.23 and a 200-day moving average price of $80.51. The company has a quick ratio of 2.11, a current ratio of 3.70 and a debt-to-equity ratio of 0.11.

UFP Industries (NASDAQ:UFPI – Get Rating) last released its earnings results on Tuesday, February 21st. The construction company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.37. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.90 billion. UFP Industries had a return on equity of 28.83% and a net margin of 7.20%. UFP Industries’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.19 earnings per share. Equities analysts anticipate that UFP Industries, Inc. will post 7.6 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Tuesday, February 28th. UFP Industries’s dividend payout ratio is presently 9.10%.

UFP Industries Profile

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UFP Industries, Inc engages in the supply of products primarily manufactured from wood, wood and non-wood composites, and other materials to retail, packaging, and construction markets. It operates through the following segments: Retail Solutions, Packaging, and Construction. The Retail Solutions segment sells treated lumber products, wood plastic composite, mineral based composite decking and related decking accessories, exterior sliding, pattern, trim, and facia products.