UFP Industries, Inc. (NASDAQ:UFPI) Receives $114.25 Average Target Price from Brokerages

UFP Industries, Inc. (NASDAQ:UFPI) has been given an average recommendation of “Hold” by the six analysts that are currently covering the stock, MarketBeat reports. One research 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 twelve-month price target among brokerages that have issued a report on the stock in the last year is $114.25.

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

UFP Industries Trading Up 0.7%

UFPI opened at $103.08 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. UFP Industries has a one year low of $87.11 and a one year high of $120.00. The company has a market cap of $6.01 billion, a P/E ratio of 19.05 and a beta of 1.49. The business’s 50-day simple moving average is $92.54 and its 200-day simple moving average is $96.37.

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

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, December 1st. UFP Industries’s dividend payout ratio is presently 25.88%.

Insider Buying and Selling

In related news, Chairman Matthew J. Missad sold 11,000 shares of the stock in a transaction on Thursday, December 11th. The shares were 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 owned 310,533 shares in the company, valued at $28,649,774.58. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael G. Wooldridge sold 1,192 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the transaction, the director directly owned 14,697 shares in the company, valued at $1,373,140.71. The trade was a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

Several hedge funds have recently made changes to their positions in the business. Boston Partners increased its position in UFP Industries by 2.2% in the 3rd quarter. Boston Partners now owns 1,887,460 shares of the construction company’s stock valued at $176,449,000 after acquiring an additional 39,957 shares during the period. Geode Capital Management LLC increased its holdings in shares of UFP Industries by 2.4% in the second quarter. Geode Capital Management LLC now owns 1,594,161 shares of the construction company’s stock valued at $158,413,000 after purchasing an additional 37,534 shares during the period. Wasatch Advisors LP raised its stake in shares of UFP Industries by 5.1% during the second quarter. Wasatch Advisors LP now owns 1,408,538 shares of the construction company’s stock worth $139,952,000 after purchasing an additional 67,849 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of UFP Industries by 1.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,223,441 shares of the construction company’s stock worth $113,743,000 after purchasing an additional 15,648 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in UFP Industries by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 790,648 shares of the construction company’s stock valued at $78,559,000 after buying an additional 20,387 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.