UFP Industries, Inc. (NASDAQ:UFPI) Receives Average Recommendation of “Hold” from Analysts

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

Several research firms have recently commented on UFPI. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Weiss Ratings lowered shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Benchmark lowered their price objective on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. DA Davidson cut their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Stifel Nicolaus decreased their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research note on Monday, May 11th.

UFP Industries Price Performance

Shares of UFPI stock opened at $89.19 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. The firm’s 50-day moving average is $85.15 and its two-hundred day moving average is $94.00. UFP Industries has a 12 month low of $77.89 and a 12 month high of $118.00. The company has a market capitalization of $5.04 billion, a PE ratio of 19.47 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts predict that UFP Industries will post 4.6 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 1st. UFP Industries’s dividend payout ratio (DPR) is presently 31.44%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of UFP Industries in the 4th quarter valued at about $75,183,000. Wasatch Advisors LP grew its position in shares of UFP Industries by 32.9% during the first quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock worth $187,732,000 after buying an additional 504,609 shares in the last quarter. River Road Asset Management LLC increased its stake in shares of UFP Industries by 64.1% during the fourth quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock worth $80,118,000 after buying an additional 343,830 shares during the period. Millennium Management LLC increased its stake in shares of UFP Industries by 209.9% during the third quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after buying an additional 288,093 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in UFP Industries by 2,178.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock worth $19,423,000 after acquiring an additional 203,957 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

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.