UFP Industries, Inc. (NASDAQ:UFPI) Given Average Rating of “Moderate Buy” by Brokerages

UFP Industries, Inc. (NASDAQ:UFPI) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $139.60.

Several equities analysts have recently commented on UFPI shares. Benchmark upped their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Stifel Nicolaus upped their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Finally, Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and raised their price target for the company from $120.00 to $155.00 in a research note on Tuesday, October 8th.

UFP Industries Stock Performance

UFPI stock opened at $136.89 on Monday. The stock’s 50 day simple moving average is $123.46 and its 200 day simple moving average is $119.41. UFP Industries has a 12-month low of $90.62 and a 12-month high of $137.32. The firm has a market cap of $8.34 billion, a P/E ratio of 17.71 and a beta of 1.39. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm posted $2.36 EPS. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. As a group, equities research analysts predict that UFP Industries will post 7.29 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.96%. UFP Industries’s dividend payout ratio is presently 17.08%.

Institutional Investors Weigh In On UFP Industries

Institutional investors have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of UFP Industries by 0.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after buying an additional 28,601 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of UFP Industries by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after purchasing an additional 5,784 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of UFP Industries by 22.7% in the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock worth $67,594,000 after purchasing an additional 112,518 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. lifted its stake in UFP Industries by 82.3% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock valued at $29,007,000 after purchasing an additional 114,166 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in UFP Industries by 1.4% during the first quarter. Principal Financial Group Inc. now owns 251,607 shares of the construction company’s stock worth $30,950,000 after buying an additional 3,444 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

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.