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

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $114.25.

A number of research firms recently weighed in on UFPI. Stifel Nicolaus set a $98.00 target price on UFP Industries in a research report on Tuesday, December 2nd. DA Davidson upgraded shares of UFP Industries from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $112.00 in a report on Friday, October 31st. Zacks Research cut shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th.

Insider Buying and Selling at UFP Industries

In other news, Chairman Matthew J. Missad sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the transaction, the chairman owned 310,533 shares in the company, valued at approximately $28,649,774.58. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael G. Wooldridge sold 1,192 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total value of $111,368.56. Following the sale, the director owned 14,697 shares in the company, valued at approximately $1,373,140.71. This represents a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.56% of the company’s stock.

Institutional Trading of UFP Industries

A number of large investors have recently made changes to their positions in UFPI. Allianz Asset Management GmbH lifted its position in shares of UFP Industries by 10.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock valued at $24,767,000 after buying an additional 23,152 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in 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 acquiring an additional 7,063 shares during the period. Nordea Investment Management AB lifted its holdings in UFP Industries by 0.7% during the second 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 in the last quarter. World Investment Advisors bought a new position in shares of UFP Industries in the second quarter worth approximately $394,000. Finally, Caxton Associates LLP purchased a new stake in shares of UFP Industries in the second quarter worth $1,099,000. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $103.09 on Friday. The stock has a market cap of $6.01 billion, a P/E ratio of 19.06 and a beta of 1.49. The company has a quick ratio of 3.23, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $92.12 and its two-hundred day moving average price is $96.35. UFP Industries has a twelve month low of $87.11 and a twelve month high of $120.00.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.08). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $1.64 earnings per share. As a group, equities analysts predict that UFP Industries will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, December 1st. UFP Industries’s dividend payout ratio (DPR) is presently 25.88%.

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.