UFP Industries, Inc. (NASDAQ:UFPI) Receives Consensus Rating of “Hold” from Analysts

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have earned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $105.40.

A number of research analysts recently issued reports on UFPI shares. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Stifel Nicolaus cut their target price on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Benchmark decreased their price target on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective on the stock in a research report on Tuesday, May 5th.

Hedge Funds Weigh In On UFP Industries

Several institutional investors have recently added to or reduced their stakes in UFPI. Confluence Investment Management LLC lifted its position in UFP Industries by 26.0% during the 2nd quarter. Confluence Investment Management LLC now owns 16,254 shares of the construction company’s stock worth $1,475,000 after acquiring an additional 3,354 shares during the period. Empowered Funds LLC increased its holdings in shares of UFP Industries by 198.8% in the first quarter. Empowered Funds LLC now owns 6,164 shares of the construction company’s stock valued at $568,000 after purchasing an additional 4,101 shares during the period. NewEdge Advisors LLC increased its holdings in shares of UFP Industries by 16.5% in the first quarter. NewEdge Advisors LLC now owns 4,984 shares of the construction company’s stock valued at $459,000 after purchasing an additional 706 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of UFP Industries during the first quarter worth approximately $713,000. Finally, California State Teachers Retirement System raised its stake in shares of UFP Industries by 18.5% during the first quarter. California State Teachers Retirement System now owns 65,318 shares of the construction company’s stock worth $6,017,000 after purchasing an additional 10,207 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Price Performance

Shares of UFPI opened at $89.19 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. UFP Industries has a 1-year low of $77.89 and a 1-year high of $118.00. The stock has a market cap of $5.04 billion, a PE ratio of 19.47 and a beta of 1.22. The firm has a fifty day moving average price of $85.15 and a 200 day moving average price of $94.00.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that UFP Industries will post 4.6 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.36 per share. The ex-dividend date was Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. UFP Industries’s dividend payout ratio is 31.44%.

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.