UFP Industries’ (UFPI) Buy Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of UFP Industries (NASDAQ:UFPI) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $112.00 price target on the construction company’s stock.

UFPI has been the topic of several other research reports. Stifel Nicolaus set a $98.00 price objective on UFP Industries in a research note on Tuesday, December 2nd. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $107.33.

UFP Industries Stock Up 0.4%

UFP Industries stock opened at $105.04 on Tuesday. The company’s 50 day simple moving average is $103.62 and its 200 day simple moving average is $97.82. UFP Industries has a fifty-two week low of $87.11 and a fifty-two week high of $118.00. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 21.05 and a beta of 1.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.59 and a quick ratio of 3.23.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, February 23rd. The construction company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.33). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 EPS. As a group, sell-side analysts anticipate that UFP Industries will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, March 2nd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. UFP Industries’s dividend payout ratio (DPR) is presently 25.88%.

Insiders Place Their Bets

In other news, Chairman Matthew J. Missad sold 11,000 shares of the firm’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 transaction of $1,014,860.00. Following the completion of the transaction, the chairman directly owned 310,533 shares of the company’s stock, valued at $28,649,774.58. This trade represents a 3.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. World Investment Advisors bought a new stake in UFP Industries during the second quarter worth about $394,000. AlphaQuest LLC increased its position in shares of UFP Industries by 822.7% during the 3rd quarter. AlphaQuest LLC now owns 8,480 shares of the construction company’s stock worth $793,000 after purchasing an additional 7,561 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of UFP Industries during the 2nd quarter worth approximately $1,099,000. New York State Common Retirement Fund boosted its holdings in shares of UFP Industries by 117.5% in the 3rd quarter. New York State Common Retirement Fund now owns 86,589 shares of the construction company’s stock valued at $8,095,000 after buying an additional 46,775 shares during the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new stake in shares of UFP Industries in the 3rd quarter valued at approximately $41,962,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.