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

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have earned an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $114.25.

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

UFP Industries Price Performance

NASDAQ:UFPI opened at $91.53 on Wednesday. The firm’s fifty day moving average is $91.58 and its two-hundred day moving average is $96.67. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 16.92 and a beta of 1.49. UFP Industries has a one year low of $87.11 and a one year high of $120.00. 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 (NASDAQ:UFPI) last issued its earnings results on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.61 billion. UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 EPS. Research analysts expect that UFP Industries will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.35 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. UFP Industries’s dividend payout ratio (DPR) is presently 25.88%.

Insiders Place Their Bets

In related news, Director Michael G. Wooldridge sold 1,192 shares of the stock in a transaction that occurred 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 sale, the director owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Matthew J. Missad sold 11,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the sale, the chairman directly owned 310,533 shares of the company’s stock, valued at $28,649,774.58. This trade represents a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UFP Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH increased its position in shares of UFP Industries by 10.2% during the second quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock valued at $24,767,000 after acquiring an additional 23,152 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of UFP Industries by 4.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 166,340 shares of the construction company’s stock worth $16,528,000 after purchasing an additional 7,063 shares during the period. Nordea Investment Management AB increased its holdings in UFP Industries by 0.7% in the 2nd quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company’s stock valued at $11,094,000 after purchasing an additional 759 shares during the last quarter. World Investment Advisors purchased a new stake in UFP Industries in the second quarter valued at approximately $394,000. Finally, Caxton Associates LLP acquired a new position in UFP Industries during the second quarter worth $1,099,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

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.