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

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $103.75.

Several research firms recently weighed in on UFPI. DA Davidson decreased their price objective on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Benchmark decreased their price target on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, Stifel Nicolaus cut their target price on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th.

Hedge Funds Weigh In On UFP Industries

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in UFP Industries by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,247,346 shares of the construction company’s stock worth $114,980,000 after purchasing an additional 23,905 shares during the period. SG Americas Securities LLC lifted its stake in UFP Industries by 454.4% in the fourth quarter. SG Americas Securities LLC now owns 21,499 shares of the construction company’s stock worth $1,957,000 after purchasing an additional 17,621 shares during the last quarter. Flagship Capital Management Inc. purchased a new stake in UFP Industries during the fourth quarter valued at about $1,550,000. Horizon Investments LLC bought a new position in shares of UFP Industries during the fourth quarter valued at about $1,120,000. Finally, K.J. Harrison & Partners Inc bought a new position in shares of UFP Industries during the fourth quarter valued at about $1,093,000. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Stock Up 1.1%

UFPI opened at $92.72 on Wednesday. The firm has a market capitalization of $5.24 billion, a P/E ratio of 21.27 and a beta of 1.23. UFP Industries has a one year low of $77.89 and a one year high of $118.00. The company has a fifty day moving average price of $85.81 and a 200-day moving average price of $92.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.11. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.79 billion. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. Equities research analysts expect that UFP Industries will post 4.56 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 1.6%. UFP Industries’s payout ratio is 33.03%.

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.