UFP Industries, Inc. (NASDAQ:UFPI) Receives Average Recommendation of “Hold” from Analysts

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have received a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $114.25.

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

Insider Buying and Selling at UFP Industries

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of UFP Industries by 17.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company’s stock valued at $401,550,000 after acquiring an additional 568,741 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in UFP Industries by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,917,463 shares of the construction company’s stock valued at $205,237,000 after purchasing an additional 25,903 shares during the last quarter. Boston Partners lifted its holdings 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 purchasing an additional 39,957 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 worth $158,413,000 after buying an additional 37,534 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in 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 acquiring an additional 67,849 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Up 0.6%

UFPI stock opened at $92.94 on Wednesday. The company has a quick ratio of 3.23, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. UFP Industries has a 52 week low of $87.11 and a 52 week high of $124.65. The stock has a market capitalization of $5.41 billion, a PE ratio of 17.18 and a beta of 1.49. The firm has a 50 day moving average of $91.33 and a 200 day moving average of $96.81.

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

UFP Industries Dividend Announcement

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

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.