UFP Industries, Inc. (NASDAQ:UFPI) Receives Consensus Rating of “Hold” from Brokerages

UFP Industries, Inc. (NASDAQ:UFPI) has received a consensus rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat.com 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 target price among brokers that have issued a report on the stock in the last year is $132.60.

Several brokerages have weighed in on UFPI. Wedbush reiterated a “neutral” rating and issued a $120.00 price objective (up previously from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Benchmark boosted their price objective on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Stifel Nicolaus boosted their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets boosted 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.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $128.53 on Thursday. The business has a 50 day moving average of $120.40 and a 200 day moving average of $117.47. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 15.99 and a beta of 1.39. UFP Industries has a 1-year low of $90.62 and a 1-year high of $136.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $2.36 EPS. UFP Industries’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, sell-side analysts predict that UFP Industries will post 7.27 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.03%. UFP Industries’s dividend payout ratio is presently 16.42%.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in UFPI. Norges Bank purchased a new stake in UFP Industries in the fourth quarter worth $86,885,000. UBS Group AG grew its stake in UFP Industries by 16.5% in the fourth quarter. UBS Group AG now owns 82,195 shares of the construction company’s stock worth $10,320,000 after purchasing an additional 11,664 shares during the period. Wells Fargo & Company MN grew its stake in UFP Industries by 871.3% in the fourth quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock worth $51,741,000 after purchasing an additional 369,687 shares during the period. Corient Private Wealth LLC grew its stake in UFP Industries by 26.5% in the fourth quarter. Corient Private Wealth LLC now owns 16,832 shares of the construction company’s stock worth $2,113,000 after purchasing an additional 3,525 shares during the period. Finally, Assetmark Inc. grew its stake in UFP Industries by 17.3% in the fourth quarter. Assetmark Inc. now owns 873 shares of the construction company’s stock worth $110,000 after purchasing an additional 129 shares during the period. Institutional investors own 81.81% of the company’s stock.

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.