California Public Employees Retirement System Sells 10,565 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

California Public Employees Retirement System reduced its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,731 shares of the construction company’s stock after selling 10,565 shares during the period. California Public Employees Retirement System owned 0.19% of UFP Industries worth $12,812,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in UFP Industries during the 4th quarter valued at $83,149,000. Loomis Sayles & Co. L P raised its holdings in shares of UFP Industries by 0.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 272,349 shares of the construction company’s stock valued at $30,680,000 after acquiring an additional 1,775 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in UFP Industries by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 698,684 shares of the construction company’s stock worth $78,707,000 after acquiring an additional 67,280 shares during the period. Penobscot Investment Management Company Inc. grew its holdings in UFP Industries by 70.9% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,520 shares of the construction company’s stock worth $509,000 after acquiring an additional 1,875 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in UFP Industries by 6.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 105 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UFPI has been the topic of a number of recent research reports. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark reiterated a “buy” rating and issued a $135.00 price target on shares of UFP Industries in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

UFP Industries Trading Up 2.0 %

NASDAQ UFPI opened at $106.44 on Friday. The firm has a market cap of $6.47 billion, a PE ratio of 15.72 and a beta of 1.45. UFP Industries, Inc. has a 52 week low of $100.58 and a 52 week high of $141.33. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $110.50 and a 200 day moving average price of $120.64.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.35 per share. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.32%. UFP Industries’s payout ratio is presently 20.68%.

UFP Industries 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.