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

UFP Industries, Inc. (NASDAQ:UFPI) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $132.60.

UFPI has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their target price on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Benchmark lifted their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Finally, Wedbush reaffirmed a “neutral” rating and set a $120.00 target price (up previously from $102.00) on shares of UFP Industries in a report on Tuesday, July 30th.

UFP Industries Trading Up 2.0 %

Shares of UFP Industries stock opened at $128.53 on Thursday. UFP Industries has a 52-week low of $90.62 and a 52-week high of $136.93. The stock’s 50-day simple moving average is $120.40 and its 200 day simple moving average is $117.47. The stock has a market capitalization of $7.83 billion, a P/E ratio of 15.99 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34.

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

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, August 30th. UFP Industries’s payout ratio is 16.42%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Foundry Partners LLC grew its holdings 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 worth $4,811,000 after purchasing an additional 4,526 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of UFP Industries by 28.6% during the first quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock worth $14,150,000 after purchasing an additional 25,508 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of UFP Industries by 299.5% during the second 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 stake in UFP Industries in the 1st quarter worth approximately $1,214,000. Finally, Empowered Funds LLC lifted its position in UFP Industries by 14.9% in the 1st quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock worth $6,958,000 after buying an additional 7,320 shares during 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.