Louisiana State Employees Retirement System bought a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 29,400 shares of the construction company's stock, valued at approximately $2,122,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Eqis Capital Management Inc. bought a new position in UFP Industries during the second quarter worth $211,000. Mirae Asset Global Investments Co. Ltd. bought a new position in UFP Industries during the second quarter worth $1,378,000. Denali Advisors LLC bought a new position in UFP Industries during the second quarter worth $2,412,000. WCM Investment Management LLC lifted its stake in UFP Industries by 2.5% during the third quarter. WCM Investment Management LLC now owns 181,902 shares of the construction company's stock worth $13,101,000 after purchasing an additional 4,454 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in UFP Industries by 5.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 34,720 shares of the construction company's stock worth $2,366,000 after purchasing an additional 1,725 shares during the last quarter. 81.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UFPI. DA Davidson reduced their price objective on UFP Industries to $96.00 in a research note on Thursday, October 27th. StockNews.com started coverage on UFP Industries in a research note on Wednesday, October 12th. They set a "buy" rating on the stock.

UFP Industries Stock Performance

UFP Industries (NASDAQ:UFPI – Get Rating) last posted its earnings results on Thursday, October 20th. The construction company reported $2.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.51 by $0.15. The company had revenue of $2.32 billion for the quarter, compared to analysts' expectations of $2.28 billion. UFP Industries had a return on equity of 30.87% and a net margin of 7.17%. On average, research analysts predict that UFP Industries, Inc. will post 10.69 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, November 30th. UFP Industries's dividend payout ratio (DPR) is 9.01%.

UFP Industries Profile

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UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. It operates through Retail, Industrial, and Construction segments. The Retail segment offers preserved and unpreserved dimensional lumber; and outdoor living products, including wood and wood composite decking and related accessories, decorative lawn, garden, craft, and hobby products.

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