UFP Industries (NASDAQ:UFPI) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of UFP Industries (NASDAQ:UFPI) from a buy rating to a hold rating in a report released on Monday morning.

Several other equities analysts have also recently weighed in on the stock. Benchmark raised their price target on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price objective on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a research note on Monday, November 4th. Finally, Stifel Nicolaus increased their target price on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Stock Down 1.7 %

UFPI stock opened at $135.26 on Monday. The stock’s 50 day simple moving average is $131.39 and its 200 day simple moving average is $122.77. The company has a market cap of $8.21 billion, a P/E ratio of 18.63 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. UFP Industries has a fifty-two week low of $107.49 and a fifty-two week high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. UFP Industries’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. On average, research analysts expect that UFP Industries will post 6.89 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 0.98%. UFP Industries’s dividend payout ratio (DPR) is currently 18.16%.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.58% of the company’s stock.

Institutional Trading of UFP Industries

Large investors have recently bought and sold shares of the company. BOKF NA raised its stake in UFP Industries by 108.0% in the 1st quarter. BOKF NA now owns 3,224 shares of the construction company’s stock valued at $387,000 after acquiring an additional 1,674 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of UFP Industries by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock valued at $90,857,000 after purchasing an additional 5,784 shares during the period. Tidal Investments LLC lifted its stake in shares of UFP Industries by 9.6% during the 1st quarter. Tidal Investments LLC now owns 17,499 shares of the construction company’s stock valued at $2,153,000 after buying an additional 1,534 shares in the last quarter. GAMMA Investing LLC boosted its holdings in UFP Industries by 84.2% in the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after buying an additional 234 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in UFP Industries by 299.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock valued at $687,000 after buying an additional 4,597 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

About UFP Industries

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.