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

UFP Industries, Inc. (NASDAQ:UFPI) has been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $105.40.

UFPI has been the subject of several recent analyst reports. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Stifel Nicolaus decreased their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a report on Monday, May 11th. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Benchmark decreased 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. Finally, BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a report on Tuesday, May 5th.

UFP Industries Price Performance

NASDAQ UFPI opened at $81.06 on Tuesday. The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $87.51 and a 200 day simple moving average of $94.59. The company has a market cap of $4.58 billion, a P/E ratio of 17.70 and a beta of 1.24. UFP Industries has a 1 year low of $77.89 and a 1 year high of $118.00.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.26). The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.UFP Industries’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. On average, sell-side analysts predict that UFP Industries will post 4.6 EPS for the current year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. UFP Industries’s dividend payout ratio is currently 31.44%.

Institutional Trading of UFP Industries

Large investors have recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in UFP Industries by 16.5% during the 1st quarter. NewEdge Advisors LLC now owns 4,984 shares of the construction company’s stock valued at $459,000 after purchasing an additional 706 shares during the last quarter. Edgestream Partners L.P. acquired a new position in UFP Industries during the 1st quarter valued at $713,000. California State Teachers Retirement System raised its stake in 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 valued at $6,017,000 after purchasing an additional 10,207 shares during the last quarter. Royal Bank of Canada raised its stake in UFP Industries by 50.2% during the 1st quarter. Royal Bank of Canada now owns 52,008 shares of the construction company’s stock valued at $4,792,000 after purchasing an additional 17,376 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in UFP Industries by 198.8% during the 1st quarter. Empowered Funds LLC now owns 6,164 shares of the construction company’s stock valued at $568,000 after purchasing an additional 4,101 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

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.