Analysts Set UFP Industries, Inc. (NASDAQ:UFPI) Price Target at $105.40

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $105.40.

Several equities research analysts recently issued reports on UFPI shares. DA Davidson decreased their price target on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Stifel Nicolaus cut their price target on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research report on Tuesday, May 5th. Finally, Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd.

UFP Industries Stock Performance

Shares of NASDAQ UFPI traded up $1.81 during mid-day trading on Friday, reaching $84.82. 391,024 shares of the company were exchanged, compared to its average volume of 512,404. UFP Industries has a twelve month low of $77.89 and a twelve month high of $118.00. The stock has a market capitalization of $4.79 billion, a P/E ratio of 18.52 and a beta of 1.22. The company’s 50-day simple moving average is $84.09 and its 200-day simple moving average is $93.70. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.26). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. As a group, research analysts predict that UFP Industries will post 4.6 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.36 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.44 annualized dividend and a yield of 1.7%. UFP Industries’s dividend payout ratio (DPR) is 31.44%.

Institutional Investors Weigh In On UFP Industries

A number of hedge funds have recently modified their holdings of the stock. Wedge Capital Management L L P NC lifted its position in shares of UFP Industries by 5.4% during the second quarter. Wedge Capital Management L L P NC now owns 81,104 shares of the construction company’s stock worth $7,359,000 after acquiring an additional 4,165 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of UFP Industries by 26.0% during the second quarter. Confluence Investment Management LLC now owns 16,254 shares of the construction company’s stock worth $1,475,000 after purchasing an additional 3,354 shares in the last quarter. Empowered Funds LLC grew its stake in UFP Industries by 198.8% in the 1st quarter. Empowered Funds LLC now owns 6,164 shares of the construction company’s stock worth $568,000 after buying an additional 4,101 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of UFP Industries by 16.5% during the 1st quarter. NewEdge Advisors LLC now owns 4,984 shares of the construction company’s stock valued at $459,000 after buying an additional 706 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of UFP Industries during the 1st quarter worth $713,000. Institutional investors own 81.81% of the company’s stock.

About UFP Industries

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.