UFP Industries (NASDAQ:UFPI) Price Target Lowered to $133.00 at Benchmark

UFP Industries (NASDAQ:UFPI) had its price target trimmed by Benchmark from $137.00 to $133.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other brokerages have also issued reports on UFPI. Wedbush restated a neutral rating and set a $102.00 target price on shares of UFP Industries in a research report on Thursday, February 22nd. StockNews.com downgraded UFP Industries from a strong-buy rating to a buy rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus raised their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, UFP Industries presently has an average rating of Moderate Buy and an average target price of $113.20.

UFP Industries Stock Performance

UFPI opened at $113.00 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.12. The business has a fifty day simple moving average of $115.66 and a 200 day simple moving average of $113.67. UFP Industries has a 1 year low of $76.89 and a 1 year high of $128.65. The company has a market capitalization of $6.95 billion, a PE ratio of 14.05 and a beta of 1.47.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $1.98 earnings per share. UFP Industries’s quarterly revenue was down 10.1% on a year-over-year basis. Research analysts expect that UFP Industries will post 7.4 EPS for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, June 3rd. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

Insider Activity at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the sale, the chief executive officer now directly owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Wealth LLC acquired a new stake in shares of UFP Industries in the 4th quarter valued at approximately $3,046,000. American Century Companies Inc. boosted its position in UFP Industries by 42.2% in the third quarter. American Century Companies Inc. now owns 252,270 shares of the construction company’s stock valued at $25,832,000 after buying an additional 74,852 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of UFP Industries by 42.8% during the third quarter. Van ECK Associates Corp now owns 14,167 shares of the construction company’s stock worth $1,451,000 after buying an additional 4,246 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of UFP Industries by 257.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 17,438 shares of the construction company’s stock worth $1,786,000 after buying an additional 12,553 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of UFP Industries by 133.2% in the 4th quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock valued at $23,623,000 after acquiring an additional 107,477 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.