UFP Industries (NASDAQ:UFPI) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of UFP Industries (NASDAQ:UFPI) from a buy rating to a hold rating in a research note released on Wednesday morning.

A number of other research analysts have also recently issued reports on UFPI. Benchmark reissued a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a report on Wednesday. Wedbush reissued an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Price Performance

Shares of UFP Industries stock opened at $112.89 on Wednesday. UFP Industries has a twelve month low of $107.25 and a twelve month high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The firm has a market cap of $6.86 billion, a P/E 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.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data 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). The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. As a group, research analysts expect that UFP Industries will post 6.88 EPS for the current fiscal year.

UFP Industries Increases Dividend

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

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer now owns 314,450 shares in the company, valued at $41,202,383.50. The trade was a 4.55 % decrease in their position. 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 stock in a transaction on Friday, December 13th. The shares were sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is owned by corporate insiders.

Institutional Trading of UFP Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in shares of UFP Industries by 31.8% in the 3rd 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 last quarter. Smartleaf Asset Management LLC lifted its holdings in UFP Industries by 1,683.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after buying an additional 505 shares during the period. Jones Financial Companies Lllp boosted its stake in UFP Industries by 357.8% in 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 during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in UFP Industries during the 4th quarter worth $61,000. Finally, Principal Securities Inc. raised its position in shares of UFP Industries by 39.8% during the 4th quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock valued at $69,000 after acquiring an additional 175 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

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.