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

UFP Industries, Inc. (NASDAQ:UFPI) has received a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $114.25.

Several brokerages have recently issued reports on UFPI. Stifel Nicolaus set a $98.00 price target on shares of UFP Industries in a research note on Tuesday, December 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Finally, DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $112.00 in a report on Friday, October 31st.

UFP Industries Stock Performance

Shares of UFP Industries stock opened at $103.09 on Friday. The business’s fifty day simple moving average is $92.12 and its 200 day simple moving average is $96.35. The company has a current ratio of 4.49, a quick ratio of 3.23 and a debt-to-equity ratio of 0.07. UFP Industries has a 12 month low of $87.11 and a 12 month high of $120.00. The firm has a market capitalization of $6.01 billion, a P/E ratio of 19.06 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm posted $1.64 earnings per share. UFP Industries’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, analysts anticipate that UFP Industries will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, December 1st. UFP Industries’s dividend payout ratio is presently 25.88%.

Insider Activity at UFP Industries

In related news, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the transaction, the chairman directly owned 310,533 shares in the company, valued at approximately $28,649,774.58. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total value of $111,368.56. Following the completion of the transaction, the director directly owned 14,697 shares of the company’s stock, valued at $1,373,140.71. The trade was a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in UFPI. Caitong International Asset Management Co. Ltd boosted its position in shares of UFP Industries by 24.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock valued at $52,000 after acquiring an additional 102 shares during the period. Vista Finance LLC lifted its stake in UFP Industries by 4.1% in the 2nd quarter. Vista Finance LLC now owns 2,671 shares of the construction company’s stock worth $265,000 after purchasing an additional 104 shares in the last quarter. F m Investments LLC boosted its holdings in UFP Industries by 0.5% in the 2nd quarter. F m Investments LLC now owns 22,459 shares of the construction company’s stock valued at $2,232,000 after purchasing an additional 112 shares during the period. Geneos Wealth Management Inc. grew its position in shares of UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after purchasing an additional 114 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of UFP Industries by 2.3% in the third quarter. US Bancorp DE now owns 5,439 shares of the construction company’s stock worth $508,000 after purchasing an additional 122 shares during the period. Hedge funds and other 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.