Texas Permanent School Fund Has $3.28 Million Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Posted by Defense World Staff on May 8th, 2023

Texas Permanent School Fund lessened its stake in UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,439 shares of the construction company’s stock after selling 2,880 shares during the quarter. Texas Permanent School Fund owned about 0.07% of UFP Industries worth $3,284,000 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. BlackRock Inc. boosted its stake in shares of UFP Industries by 3.0% in the 3rd quarter. BlackRock Inc. now owns 10,532,771 shares of the construction company’s stock valued at $760,045,000 after purchasing an additional 307,354 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of UFP Industries by 137.9% in the 3rd quarter. Renaissance Technologies LLC now owns 435,909 shares of the construction company’s stock valued at $31,455,000 after purchasing an additional 252,700 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of UFP Industries by 87.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 369,322 shares of the construction company’s stock valued at $28,497,000 after purchasing an additional 172,009 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of UFP Industries by 16.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 793,594 shares of the construction company’s stock valued at $62,892,000 after purchasing an additional 110,395 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of UFP Industries in the 4th quarter valued at about $8,120,000. Institutional investors and hedge funds own 81.69% of the company’s stock.

Insider Activity

In related news, Director William G. Currie sold 46,830 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $85.10, for a total transaction of $3,985,233.00. Following the transaction, the director now directly owns 63,770 shares in the company, valued at $5,426,827. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director William G. Currie sold 46,830 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $85.10, for a total transaction of $3,985,233.00. Following the transaction, the director now directly owns 63,770 shares in the company, valued at $5,426,827. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Patrick M. Benton sold 13,161 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $83.55, for a total transaction of $1,099,601.55. Following the transaction, the insider now owns 123,046 shares in the company, valued at $10,280,493.30. The disclosure for this sale can be found here. Insiders have sold 84,591 shares of company stock worth $7,106,975 over the last ninety days. Insiders own 3.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UFPI. Benchmark lifted their price objective on shares of UFP Industries from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. DA Davidson lifted their price objective on shares of UFP Industries from $102.00 to $112.00 in a research note on Wednesday, May 3rd. StockNews.com began coverage on shares of UFP Industries in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus reduced their price objective on shares of UFP Industries from $102.00 to $100.00 in a research note on Wednesday, May 3rd.

UFP Industries Stock Performance

Shares of UFPI opened at $81.43 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.11 and a current ratio of 4.27. UFP Industries, Inc. has a twelve month low of $64.13 and a twelve month high of $99.40. The firm’s 50 day moving average price is $79.66 and its two-hundred day moving average price is $81.28. The firm has a market cap of $5.09 billion, a P/E ratio of 8.17 and a beta of 1.48.

UFP Industries (NASDAQ:UFPI – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The construction company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.33. UFP Industries had a net margin of 7.02% and a return on equity of 24.92%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned $3.00 earnings per share. The firm’s revenue was down 26.8% compared to the same quarter last year. On average, analysts forecast that UFP Industries, Inc. will post 7.94 EPS for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. UFP Industries’s dividend payout ratio (DPR) is presently 10.03%.

About UFP Industries

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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.