UFP Industries, Inc. (NASDAQ:UFPI) – Equities research analysts at DA Davidson decreased their FY2021 earnings estimates for shares of UFP Industries in a research note issued on Tuesday, April 13th. DA Davidson analyst K. Yinger now expects that the construction company will earn $4.81 per share for the year, down from their prior estimate of $4.85. DA Davidson has a “Buy” rating and a $80.00 price target on the stock.
UFPI has been the subject of a number of other research reports. Wedbush increased their price target on shares of UFP Industries from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday. Stifel Nicolaus initiated coverage on shares of UFP Industries in a research note on Tuesday, March 9th. They set a “buy” rating and a $75.00 price target for the company. Zacks Investment Research upgraded shares of UFP Industries from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, March 2nd. Finally, BMO Capital Markets upped their price objective on shares of UFP Industries from $57.00 to $66.00 in a research report on Wednesday, March 3rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $72.50.
UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, February 24th. The construction company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.21. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.20 billion. UFP Industries had a net margin of 4.66% and a return on equity of 16.77%.
The business also recently declared a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, February 26th. This is an increase from UFP Industries’s previous quarterly dividend of $0.13. UFP Industries’s dividend payout ratio (DPR) is currently 20.62%.
In related news, COO Patrick M. Webster sold 30,000 shares of the stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the sale, the chief operating officer now directly owns 217,948 shares of the company’s stock, valued at approximately $13,464,827.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Scott T. Bravata sold 5,761 shares of the stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $64.02, for a total transaction of $368,819.22. The disclosure for this sale can be found here. Insiders sold a total of 68,772 shares of company stock valued at $4,457,698 in the last quarter. Insiders own 3.03% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in UFP Industries by 2.7% in the 4th quarter. BlackRock Inc. now owns 9,371,638 shares of the construction company’s stock valued at $520,594,000 after acquiring an additional 246,587 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of UFP Industries by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,872,983 shares of the construction company’s stock worth $159,594,000 after purchasing an additional 99,929 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of UFP Industries by 7.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,479,151 shares of the construction company’s stock worth $82,167,000 after purchasing an additional 101,122 shares during the last quarter. Norges Bank acquired a new stake in shares of UFP Industries during the 4th quarter worth about $51,065,000. Finally, GW&K Investment Management LLC boosted its stake in shares of UFP Industries by 6.6% during the 4th quarter. GW&K Investment Management LLC now owns 841,079 shares of the construction company’s stock worth $46,722,000 after purchasing an additional 52,107 shares during the last quarter. 79.40% of the stock is currently owned by hedge funds and other institutional investors.
About UFP Industries
UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.
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