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

UFP Industries, Inc. (NASDAQ:UFPI) has received a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $114.25.

A number of equities research analysts have weighed in on UFPI shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Stifel Nicolaus set a $98.00 price target on UFP Industries in a research report on Tuesday, December 2nd. DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $112.00 in a report on Friday, October 31st. Finally, Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th.

Insider Activity

In related news, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Matthew J. Missad sold 11,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the completion of the transaction, the chairman directly owned 310,533 shares of the company’s stock, valued at approximately $28,649,774.58. This represents a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH boosted its stake in UFP Industries by 10.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock worth $24,767,000 after acquiring an additional 23,152 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in UFP Industries by 4.4% during the second quarter. Mutual of America Capital Management LLC now owns 166,340 shares of the construction company’s stock worth $16,528,000 after acquiring an additional 7,063 shares in the last quarter. Nordea Investment Management AB lifted its holdings in UFP Industries by 0.7% during the second quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company’s stock worth $11,094,000 after acquiring an additional 759 shares in the last quarter. World Investment Advisors acquired a new position in UFP Industries in the second quarter valued at about $394,000. Finally, AlphaQuest LLC increased its stake in UFP Industries by 822.7% during the 3rd quarter. AlphaQuest LLC now owns 8,480 shares of the construction company’s stock worth $793,000 after purchasing an additional 7,561 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $115.48 on Thursday. The firm’s 50-day moving average is $99.55 and its 200-day moving average is $97.00. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 21.35 and a beta of 1.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. UFP Industries has a 52-week low of $87.11 and a 52-week high of $116.71.

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.