UFP Industries (NASDAQ:UFPI) Upgraded to Outperform by Wedbush

Wedbush upgraded shares of UFP Industries (NASDAQ:UFPI) from a neutral rating to an outperform rating in a research report released on Tuesday morning, Benzinga reports. The firm currently has $155.00 target price on the construction company’s stock, up from their previous target price of $120.00.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus upped their price objective on UFP Industries from $125.00 to $157.00 and gave the company a buy rating in a research note on Wednesday, July 31st. StockNews.com cut UFP Industries from a strong-buy rating to a buy rating in a research report on Friday, July 5th. BMO Capital Markets lifted their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a market perform rating in a report on Wednesday, July 31st. Finally, Benchmark upped their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the company a buy rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $139.60.

UFP Industries Trading Up 4.2 %

NASDAQ UFPI opened at $135.00 on Tuesday. The business’s fifty day moving average is $122.90 and its 200-day moving average is $119.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 16.79 and a beta of 1.39. UFP Industries has a one year low of $90.62 and a one year high of $136.93.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $2.36 earnings per share. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. Equities research analysts predict that UFP Industries will post 7.27 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, August 30th. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

Institutional Trading of UFP Industries

A number of institutional investors have recently added to or reduced their stakes in UFPI. Foundry Partners LLC increased its position in shares of UFP Industries by 13.1% during the first quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock valued at $4,811,000 after buying an additional 4,526 shares during the period. Nordea Investment Management AB increased its holdings in UFP Industries by 28.6% during the 1st quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock worth $14,150,000 after acquiring an additional 25,508 shares during the period. Harbor Capital Advisors Inc. lifted its stake in UFP Industries by 299.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after purchasing an additional 4,597 shares in the last quarter. Acadian Asset Management LLC bought a new position in UFP Industries in the 1st quarter valued at $1,214,000. Finally, Empowered Funds LLC grew its position in shares of UFP Industries by 14.9% during the 1st quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after purchasing an additional 7,320 shares in the last quarter. Hedge funds and other institutional investors 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.