UFP Industries (NASDAQ:UFPI) Given Buy Rating at Benchmark

Benchmark reaffirmed their buy rating on shares of UFP Industries (NASDAQ:UFPI) in a report published on Wednesday,Benzinga reports. They currently have a $135.00 price objective on the construction company’s stock.

Other analysts have also issued research reports about the stock. StockNews.com raised shares of UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

UFP Industries Stock Down 1.4 %

UFP Industries stock opened at $112.89 on Wednesday. UFP Industries has a fifty-two week low of $107.25 and a fifty-two week high of $141.33. The stock has a market cap of $6.86 billion, a PE ratio of 15.53 and a beta of 1.45. The firm’s 50-day simple moving average is $115.46 and its 200 day simple moving average is $123.18. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Research analysts predict that UFP Industries will post 6.88 EPS for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.24%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s payout ratio is 20.68%.

Insider Activity

In other news, CEO Matthew J. Missad sold 15,000 shares of the business’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William G. Currie sold 5,700 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the sale, the director now directly owns 61,140 shares in the company, valued at approximately $7,739,712.60. This trade represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.58% of the company’s stock.

Institutional Trading of UFP Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its position in shares of UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after purchasing an additional 76 shares during the period. Smartleaf Asset Management LLC grew its stake in UFP Industries by 1,683.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after acquiring an additional 505 shares in the last quarter. Jones Financial Companies Lllp grew its stake in UFP Industries by 357.8% during the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after acquiring an additional 415 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in UFP Industries during the fourth quarter valued at approximately $61,000. Finally, Principal Securities Inc. grew its stake in UFP Industries by 39.8% during the fourth quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock valued at $69,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

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.