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

UFP Industries, Inc. (NASDAQ:UFPI) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $114.25.

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

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $113.30 on Thursday. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 20.94 and a beta of 1.49. The business has a 50 day moving average price of $97.39 and a 200 day moving average price of $96.62. The company has a quick ratio of 3.23, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. UFP Industries has a twelve month low of $87.11 and a twelve month high of $118.35.

Insider Activity

In other UFP Industries news, Chairman Matthew J. Missad sold 11,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman owned 310,533 shares of the company’s stock, valued at $28,649,774.58. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael G. Wooldridge sold 1,192 shares of the firm’s 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 $1,373,140.71. This represents a 7.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its position in UFP Industries by 3.0% in the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock valued at $6,597,000 after acquiring an additional 1,798 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of UFP Industries by 8.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock worth $317,000 after purchasing an additional 221 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of UFP Industries by 10.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock worth $13,831,000 after purchasing an additional 12,043 shares in the last quarter. Truist Financial Corp lifted its holdings in UFP Industries by 11.0% during the 2nd quarter. Truist Financial Corp now owns 4,905 shares of the construction company’s stock valued at $487,000 after purchasing an additional 486 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in UFP Industries during the 2nd quarter valued at about $59,000. Institutional investors own 81.81% of the company’s stock.

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.