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.
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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
UFPI stock opened at $77.50 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.78 and a current ratio of 3.03. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 6.98 and a beta of 1.47. UFP Industries, Inc. has a 1 year low of $64.13 and a 1 year high of $94.80. The stock's fifty day moving average is $77.11 and its two-hundred day moving average is $76.87.
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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