Ontario Teachers Pension Plan Board Trims Position in UFP Industries, Inc. (NASDAQ:UFPI)

Ontario Teachers Pension Plan Board lessened its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 64.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,950 shares of the construction company’s stock after selling 28,827 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in UFP Industries were worth $2,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of UFPI. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of UFP Industries by 0.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after buying an additional 28,601 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of UFP Industries by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock valued at $116,467,000 after buying an additional 32,555 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of UFP Industries by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock valued at $90,857,000 after purchasing an additional 5,784 shares during the last quarter. AQR Capital Management LLC raised its stake in UFP Industries by 22.7% during the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after buying an additional 112,518 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its holdings in shares of UFP Industries by 1.0% during the 3rd quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company’s stock valued at $71,667,000 after buying an additional 5,515 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Down 0.8 %

Shares of NASDAQ UFPI opened at $128.13 on Wednesday. The firm’s 50-day moving average price is $130.05 and its 200-day moving average price is $122.22. UFP Industries, Inc. has a 12-month low of $107.49 and a 12-month high of $139.54. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 17.62 and a beta of 1.39. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.25). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 earnings per share. On average, equities research analysts anticipate that UFP Industries, Inc. will post 7.01 EPS for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.03%. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Wall Street Analyst Weigh In

UFPI has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their price objective on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Benchmark upped their target price on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wedbush reissued an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

About UFP Industries

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.