UFP Industries (NASDAQ:UFPI) Stock Rating Lowered by StockNews.com

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

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

UFP Industries Stock Up 4.5 %

UFPI stock opened at $139.02 on Monday. The company has a market cap of $8.44 billion, a P/E ratio of 19.12 and a beta of 1.39. UFP Industries has a 52 week low of $107.49 and a 52 week high of $141.33. The company’s 50-day moving average price is $131.16 and its 200 day moving average price is $122.63. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm posted $2.10 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. On average, research analysts expect that UFP Industries will post 6.89 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 0.95%. UFP Industries’s payout ratio is 18.16%.

Insider Buying and Selling at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. The trade was a 4.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UFP Industries

Several hedge funds have recently made changes to their positions in UFPI. BOKF NA grew its stake in shares of UFP Industries by 108.0% in the 1st quarter. BOKF NA now owns 3,224 shares of the construction company’s stock worth $387,000 after purchasing an additional 1,674 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of UFP Industries by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after buying an additional 5,784 shares during the period. Tidal Investments LLC boosted its holdings in shares of UFP Industries by 9.6% in the first quarter. Tidal Investments LLC now owns 17,499 shares of the construction company’s stock worth $2,153,000 after buying an additional 1,534 shares during the period. GAMMA Investing LLC boosted its holdings in shares of UFP Industries by 84.2% in the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after buying an additional 234 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of UFP Industries by 299.5% in the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after buying an additional 4,597 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.