UFP Industries, Inc. (NASDAQ:UFPI) Receives $104.50 Average Price Target from Analysts

UFP Industries, Inc. (NASDAQ:UFPI) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $104.50.

UFPI has been the subject of several research reports. Weiss Ratings upgraded shares of UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Stifel Nicolaus set a $90.00 price objective on UFP Industries and gave the stock a “hold” rating in a research report on Monday, August 24th. Finally, Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st.

UFP Industries Trading Up 1.4%

NASDAQ UFPI opened at $80.27 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64. The firm’s fifty day moving average price is $86.51 and its 200 day moving average price is $87.45. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 18.41 and a beta of 1.22. UFP Industries has a 12 month low of $77.89 and a 12 month high of $118.00.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.79 billion. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. On average, sell-side analysts expect that UFP Industries will post 4.51 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. UFP Industries’s dividend payout ratio (DPR) is 33.03%.

Institutional Investors Weigh In On UFP Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its holdings in UFP Industries by 141.0% during the second quarter. Sequoia Financial Advisors LLC now owns 6,076 shares of the construction company’s stock worth $551,000 after purchasing an additional 3,555 shares during the last quarter. NewEdge Advisors LLC grew its stake in UFP Industries by 24.5% in the 2nd quarter. NewEdge Advisors LLC now owns 6,204 shares of the construction company’s stock valued at $563,000 after acquiring an additional 1,220 shares during the last quarter. Squarepoint Ops LLC increased its holdings in UFP Industries by 182.1% during the 2nd quarter. Squarepoint Ops LLC now owns 82,360 shares of the construction company’s stock valued at $7,473,000 after acquiring an additional 53,166 shares in the last quarter. Nykredit A S acquired a new position in UFP Industries during the second quarter worth about $220,000. Finally, Corient Private Wealth LP raised its position in UFP Industries by 22.9% during the second quarter. Corient Private Wealth LP now owns 7,181 shares of the construction company’s stock worth $652,000 after acquiring an additional 1,336 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc is a manufacturer and distributor of wood, composite and other products serving the construction, industrial and retail sectors. The company operates through businesses focused on supplying materials and finished products for residential and commercial construction, outdoor living, manufactured housing, packaging and industrial applications.

Its product offerings include pressure-treated lumber, engineered wood components, decking, fencing, lawn and garden products, trusses, wood pallets, crates and other custom packaging solutions.