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

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have been given a consensus rating of “Hold” by the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $105.40.

UFPI has been the topic of a number of research analyst reports. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Benchmark dropped their price objective on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a report on Tuesday, May 5th. Finally, Stifel Nicolaus lowered their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research note on Monday, May 11th.

Institutional Trading of UFP Industries

Hedge funds have recently bought and sold shares of the business. Edgestream Partners L.P. purchased a new position in UFP Industries during the 1st quarter worth $713,000. California State Teachers Retirement System raised its stake in shares of UFP Industries by 18.5% during the 1st 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 period. Royal Bank of Canada raised its stake in shares of UFP Industries by 50.2% during the 1st quarter. Royal Bank of Canada now owns 52,008 shares of the construction company’s stock worth $4,792,000 after purchasing an additional 17,376 shares during the period. Empowered Funds LLC raised its stake in UFP Industries by 198.8% in the 1st quarter. Empowered Funds LLC now owns 6,164 shares of the construction company’s stock valued at $568,000 after acquiring an additional 4,101 shares during the period. Finally, Quantinno Capital Management LP raised its stake in UFP Industries by 207.1% in the 1st quarter. Quantinno Capital Management LP now owns 34,990 shares of the construction company’s stock valued at $3,223,000 after acquiring an additional 23,595 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Trading Down 2.4%

Shares of UFP Industries stock opened at $79.17 on Friday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 17.29 and a beta of 1.29. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. UFP Industries has a 12-month low of $78.95 and a 12-month high of $118.00. The firm’s 50-day moving average price is $90.18 and its two-hundred day moving average price is $95.61.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. On average, analysts forecast that UFP Industries will post 4.77 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.44 annualized dividend and a yield of 1.8%. UFP Industries’s dividend payout ratio (DPR) is presently 31.44%.

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.