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

StockNews.com lowered shares of UFP Industries (NASDAQ:UFPIFree Report) from a strong-buy rating to a buy rating in a research note released on Friday.

Separately, Benchmark dropped their price target on shares of UFP Industries from $137.00 to $133.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, UFP Industries currently has a consensus rating of Moderate Buy and a consensus price target of $116.50.

Read Our Latest Research Report on UFPI

UFP Industries Trading Down 1.6 %

Shares of NASDAQ:UFPI opened at $107.65 on Friday. The stock has a market capitalization of $6.65 billion, a PE ratio of 13.39 and a beta of 1.40. UFP Industries has a 1 year low of $90.62 and a 1 year high of $128.65. The firm has a fifty day moving average price of $115.83 and a 200 day moving average price of $116.71. The company has a current ratio of 4.79, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPIGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. Analysts expect that UFP Industries will post 7.53 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.33 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 1.23%. UFP Industries’s payout ratio is presently 16.42%.

Insider Transactions at UFP Industries

In other news, Director Bruce A. Merino sold 16,472 shares of UFP Industries stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the transaction, the director now directly owns 7,107 shares of the company’s stock, valued at $837,773.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Bruce A. Merino sold 16,472 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the sale, the director now directly owns 7,107 shares in the company, valued at $837,773.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Patrick M. Benton sold 11,725 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the sale, the insider now owns 97,729 shares in the company, valued at $11,265,221.83. The disclosure for this sale can be found here. Insiders have sold a total of 32,687 shares of company stock valued at $3,831,653 over the last three months. 2.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On UFP Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UFPI. Mariner LLC increased its stake in shares of UFP Industries by 6.2% during the 3rd quarter. Mariner LLC now owns 5,674 shares of the construction company’s stock worth $581,000 after purchasing an additional 331 shares during the last quarter. Seven Eight Capital LP increased its stake in shares of UFP Industries by 23.0% during the 3rd quarter. Seven Eight Capital LP now owns 4,070 shares of the construction company’s stock worth $417,000 after purchasing an additional 761 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of UFP Industries by 22.7% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 38,230 shares of the construction company’s stock worth $3,915,000 after purchasing an additional 7,076 shares during the last quarter. American Century Companies Inc. increased its stake in shares of UFP Industries by 42.2% during the 3rd quarter. American Century Companies Inc. now owns 252,270 shares of the construction company’s stock worth $25,832,000 after purchasing an additional 74,852 shares during the last quarter. Finally, Wesbanco Bank Inc. acquired a new position in shares of UFP Industries during the 3rd quarter worth about $594,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

About UFP Industries

(Get Free Report)

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.

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