State of New Jersey Common Pension Fund D Sells 3,449 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

State of New Jersey Common Pension Fund D reduced its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 10.1% in the fourth quarter, Holdings Channel reports. The fund owned 30,692 shares of the construction company’s stock after selling 3,449 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in UFP Industries were worth $3,853,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in UFP Industries in the fourth quarter worth $30,000. Wedge Capital Management L L P NC lifted its position in UFP Industries by 8.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 60,410 shares of the construction company’s stock worth $7,584,000 after buying an additional 4,667 shares during the last quarter. Duality Advisers LP purchased a new stake in UFP Industries in the fourth quarter worth $319,000. CWM LLC increased its stake in UFP Industries by 2.8% in the fourth quarter. CWM LLC now owns 7,169 shares of the construction company’s stock worth $900,000 after purchasing an additional 194 shares during the period. Finally, Verdence Capital Advisors LLC purchased a new stake in UFP Industries in the fourth quarter worth $221,000. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Stock Performance

Shares of UFP Industries stock opened at $113.64 on Friday. The firm has a market cap of $6.99 billion, a P/E ratio of 14.10 and a beta of 1.49. The company has a current ratio of 4.41, a quick ratio of 3.12 and a debt-to-equity ratio of 0.08. UFP Industries, Inc. has a 12 month low of $76.08 and a 12 month high of $128.65. The stock’s fifty day moving average price is $115.76 and its 200-day moving average price is $113.22.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Tuesday, February 20th. The construction company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.06). UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the firm earned $2.10 EPS. UFP Industries’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities research analysts expect that UFP Industries, Inc. will post 7.4 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from UFP Industries’s previous quarterly dividend of $0.20. UFP Industries’s dividend payout ratio (DPR) is currently 16.38%.

Insiders Place Their Bets

In related news, CEO Matthew J. Missad sold 5,018 shares of UFP Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the sale, the chief executive officer now owns 363,328 shares of the company’s stock, valued at $41,437,558.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Stifel Nicolaus increased their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Benchmark increased their target price on UFP Industries from $120.00 to $137.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Finally, Wedbush restated a “neutral” rating and set a $102.00 price target on shares of UFP Industries in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

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.