UFP Industries, Inc. (NASDAQ:UFPI) Given Average Recommendation of “Hold” by Analysts

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have earned an average rating of “Hold” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $132.60.

Several equities analysts recently commented on the company. Stifel Nicolaus upped their target price on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets increased their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Benchmark lifted their price target on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Wedbush restated a “neutral” rating and set a $120.00 price objective (up from $102.00) on shares of UFP Industries in a report on Tuesday, July 30th.

Insider Transactions at UFP Industries

In other news, insider Patrick M. Benton sold 11,725 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the transaction, the insider now owns 97,729 shares of the company’s stock, valued at $11,265,221.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

A number of hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of UFP Industries during the fourth quarter valued at about $86,885,000. Wells Fargo & Company MN increased its stake in UFP Industries by 871.3% during the 4th quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock valued at $51,741,000 after buying an additional 369,687 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of UFP Industries during the 1st quarter worth about $18,245,000. Henrickson Nauta Wealth Advisors Inc. lifted its stake in shares of UFP Industries by 82.3% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock worth $29,007,000 after acquiring an additional 114,166 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of UFP Industries by 22.7% in the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after acquiring an additional 112,518 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Price Performance

UFPI stock opened at $125.02 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. The firm has a market cap of $7.62 billion, a P/E ratio of 15.55 and a beta of 1.40. UFP Industries has a 1 year low of $90.62 and a 1 year high of $136.93. The stock’s 50 day moving average price is $117.97 and its 200 day moving average price is $117.04.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.36 earnings per share. On average, sell-side analysts expect that UFP Industries will post 7.3 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, August 30th. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

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.