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 research report sent to investors on Monday.

Other analysts have also recently issued reports about the stock. Benchmark lifted their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Stock Down 1.7 %

NASDAQ:UFPI opened at $135.26 on Monday. The company has a market cap of $8.21 billion, a PE ratio of 18.61 and a beta of 1.39. UFP Industries has a twelve month low of $107.49 and a twelve month high of $141.33. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $131.53 and its two-hundred day moving average is $122.86.

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

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio is currently 18.16%.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 314,450 shares in the company, valued at $41,202,383.50. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On UFP Industries

Several large investors have recently made changes to their positions in the company. Franklin Resources Inc. raised its position in UFP Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock worth $169,675,000 after acquiring an additional 188,969 shares during the period. Sanctuary Advisors LLC raised its position in UFP Industries by 6.6% during the third quarter. Sanctuary Advisors LLC now owns 10,897 shares of the construction company’s stock worth $1,450,000 after acquiring an additional 674 shares during the period. Geode Capital Management LLC raised its position in UFP Industries by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock worth $200,553,000 after acquiring an additional 14,857 shares during the period. Vestcor Inc raised its position in UFP Industries by 2.4% during the third quarter. Vestcor Inc now owns 11,096 shares of the construction company’s stock worth $1,456,000 after acquiring an additional 261 shares during the period. Finally, M&T Bank Corp raised its position in UFP Industries by 17.3% during the third quarter. M&T Bank Corp now owns 3,029 shares of the construction company’s stock worth $397,000 after acquiring an additional 446 shares during the period. 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.