UFP Industries (NASDAQ:UFPI) Price Target Lowered to $110.00 at DA Davidson

UFP Industries (NASDAQ:UFPI) had its target price trimmed by DA Davidson from $112.00 to $110.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other equities analysts also recently commented on the stock. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Stifel Nicolaus set a $98.00 price target on UFP Industries in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, UFP Industries presently has an average rating of “Hold” and a consensus target price of $106.67.

UFP Industries Stock Down 1.4%

Shares of UFPI stock opened at $92.09 on Tuesday. The company has a 50 day simple moving average of $104.40 and a two-hundred day simple moving average of $97.48. The company has a current ratio of 4.59, a quick ratio of 3.13 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.21 billion, a P/E ratio of 18.45 and a beta of 1.48. UFP Industries has a 12 month low of $87.11 and a 12 month high of $118.00.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.33). The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the business posted $1.12 EPS. On average, research analysts expect that UFP Industries will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.36 per share. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, March 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.6%. UFP Industries’s payout ratio is 28.86%.

Insider Buying and Selling

In related news, Chairman Matthew J. Missad sold 11,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the sale, the chairman owned 310,533 shares of the company’s stock, valued at approximately $28,649,774.58. The trade was a 3.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.56% of the company’s stock.

Hedge Funds Weigh In On UFP Industries

Hedge funds have recently made changes to their positions in the company. AlphaQuest LLC increased its position in shares of UFP Industries by 822.7% in the third quarter. AlphaQuest LLC now owns 8,480 shares of the construction company’s stock valued at $793,000 after buying an additional 7,561 shares in the last quarter. Caxton Associates LLP acquired a new position in UFP Industries in the second quarter valued at $1,099,000. New York State Common Retirement Fund increased its position in shares of UFP Industries by 117.5% in the third quarter. New York State Common Retirement Fund now owns 86,589 shares of the construction company’s stock worth $8,095,000 after acquiring an additional 46,775 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of UFP Industries in the third quarter valued at about $41,962,000. Finally, Boston Partners grew its holdings in UFP Industries by 25.1% during the 2nd quarter. Boston Partners now owns 1,838,108 shares of the construction company’s stock valued at $182,636,000 after purchasing an additional 368,808 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

About UFP Industries

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.