Analysts Set UFP Industries, Inc. (NASDAQ:UFPI) PT at $114.25

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have been given a consensus recommendation of “Hold” by the six research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $114.25.

A number of analysts have recently commented on UFPI shares. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. Stifel Nicolaus set a $98.00 target price on UFP Industries in a report on Tuesday, December 2nd. DA Davidson raised shares of UFP Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $112.00 in a report on Friday, October 31st. Finally, Zacks Research cut shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th.

UFP Industries Trading Down 1.6%

Shares of NASDAQ:UFPI opened at $93.22 on Wednesday. The company has a 50 day moving average of $91.54 and a 200-day moving average of $96.75. The company has a current ratio of 4.49, a quick ratio of 3.23 and a debt-to-equity ratio of 0.07. The firm has a market cap of $5.43 billion, a P/E ratio of 17.23 and a beta of 1.49. UFP Industries has a twelve month low of $87.11 and a twelve month high of $120.00.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.18%. UFP Industries’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 EPS. As a group, analysts anticipate that UFP Industries will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. UFP Industries’s dividend payout ratio is currently 25.88%.

Insiders Place Their Bets

In other news, Chairman Matthew J. Missad sold 11,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the completion of the sale, the chairman directly owned 310,533 shares of the company’s stock, valued at $28,649,774.58. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael G. Wooldridge sold 1,192 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total value of $111,368.56. Following the sale, the director directly owned 14,697 shares in the company, valued at $1,373,140.71. This trade represents a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is currently owned by corporate insiders.

Institutional Trading of UFP Industries

A number of hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in shares of UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after acquiring an additional 114 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in UFP Industries by 648.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock worth $41,000 after purchasing an additional 376 shares during the period. Winnow Wealth LLC purchased a new position in UFP Industries during the 3rd quarter worth approximately $51,000. Caitong International Asset Management Co. Ltd raised its stake in UFP Industries by 24.5% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock valued at $52,000 after purchasing an additional 102 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of UFP Industries by 90.9% in the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock valued at $54,000 after purchasing an additional 259 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.