UFP Industries (NASDAQ:UFPI) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of UFP Industries (NASDAQ:UFPI) from a buy rating to a hold rating in a report released on Monday.

Several other analysts have also issued reports on UFPI. BMO Capital Markets upped their price target on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Benchmark raised their price target on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus lifted their price target on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Trading Down 1.7 %

Shares of UFP Industries stock opened at $135.26 on Monday. The company has a 50 day simple moving average of $131.39 and a two-hundred day simple moving average of $122.77. The firm has a market cap of $8.21 billion, a PE ratio of 18.63 and a beta of 1.39. UFP Industries has a 1 year low of $107.49 and a 1 year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.10 earnings per share. Analysts expect that UFP Industries will post 6.89 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 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 0.98%. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the completion of the transaction, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UFP Industries

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in shares of UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock worth $169,675,000 after buying an additional 188,969 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in UFP Industries by 6.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,897 shares of the construction company’s stock worth $1,450,000 after acquiring an additional 674 shares during the last quarter. Geode Capital Management LLC lifted its position in UFP Industries by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock valued at $200,553,000 after acquiring an additional 14,857 shares in the last quarter. Vestcor Inc boosted its stake in UFP Industries by 2.4% during the 3rd quarter. Vestcor Inc now owns 11,096 shares of the construction company’s stock valued at $1,456,000 after purchasing an additional 261 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in shares of UFP Industries by 17.3% in the 3rd quarter. M&T Bank Corp now owns 3,029 shares of the construction company’s stock worth $397,000 after purchasing an additional 446 shares in the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

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.