Strs Ohio Increases Holdings in UFP Industries, Inc. $UFPI

Strs Ohio increased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,800 shares of the construction company’s stock after purchasing an additional 800 shares during the period. Strs Ohio’s holdings in UFP Industries were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Allianz Asset Management GmbH lifted its stake in shares of UFP Industries by 10.2% in the second quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock worth $24,767,000 after buying an additional 23,152 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in UFP Industries by 4.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 166,340 shares of the construction company’s stock valued at $16,528,000 after purchasing an additional 7,063 shares during the last quarter. Nordea Investment Management AB raised its stake in UFP Industries by 0.7% during the 2nd quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company’s stock valued at $11,094,000 after purchasing an additional 759 shares during the last quarter. XTX Topco Ltd raised its stake in UFP Industries by 548.2% during the 1st quarter. XTX Topco Ltd now owns 19,717 shares of the construction company’s stock valued at $2,111,000 after purchasing an additional 16,675 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in UFP Industries during the 2nd quarter valued at $355,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. DA Davidson upgraded shares of UFP Industries from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $112.00 in a research note on Friday, October 31st. Stifel Nicolaus set a $95.00 target price on shares of UFP Industries and gave the company a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. Loop Capital assumed coverage on shares of UFP Industries in a research note on Wednesday, July 23rd. They set a “hold” rating and a $112.00 target price for the company. Finally, Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, UFP Industries currently has a consensus rating of “Hold” and an average target price of $113.50.

UFP Industries Price Performance

NASDAQ UFPI opened at $91.58 on Wednesday. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 16.93 and a beta of 1.45. UFP Industries, Inc. has a 52-week low of $88.78 and a 52-week high of $141.33. The business has a 50 day simple moving average of $94.92 and a 200 day simple moving average of $98.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Wednesday, October 29th. The construction company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.08). UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business posted $1.64 earnings per share. UFP Industries’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.40 annualized dividend and a yield of 1.5%. UFP Industries’s payout ratio is presently 25.88%.

UFP Industries Company Profile

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.