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

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have received an average rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $103.75.

Several equities analysts have recently issued reports on UFPI shares. Benchmark decreased their price target on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings lowered UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. DA Davidson reduced their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus lowered their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a report on Monday, May 11th.

Institutional Trading of UFP Industries

Several hedge funds have recently bought and sold shares of the stock. Wedge Capital Management L L P NC raised its holdings in UFP Industries by 5.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 81,104 shares of the construction company’s stock worth $7,359,000 after buying an additional 4,165 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of UFP Industries by 26.0% in the second quarter. Confluence Investment Management LLC now owns 16,254 shares of the construction company’s stock valued at $1,475,000 after buying an additional 3,354 shares during the period. Empowered Funds LLC boosted its holdings in shares of UFP Industries by 198.8% in the first quarter. Empowered Funds LLC now owns 6,164 shares of the construction company’s stock valued at $568,000 after buying an additional 4,101 shares during the period. NewEdge Advisors LLC increased its position in shares of UFP Industries by 16.5% during the first quarter. NewEdge Advisors LLC now owns 4,984 shares of the construction company’s stock worth $459,000 after acquiring an additional 706 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of UFP Industries during the first quarter worth $713,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Up 3.2%

Shares of NASDAQ:UFPI opened at $91.01 on Wednesday. UFP Industries has a 52 week low of $77.89 and a 52 week high of $118.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.07 and a current ratio of 4.64. The company has a market capitalization of $5.14 billion, a PE ratio of 19.87 and a beta of 1.22. The company has a 50 day moving average price of $84.97 and a two-hundred day moving average price of $93.21.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.26). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.30 earnings per share. Analysts forecast that UFP Industries will post 4.57 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.36 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. UFP Industries’s payout ratio is currently 31.44%.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.