Stifel Nicolaus Increases UFP Industries (NASDAQ:UFPI) Price Target to $157.00

UFP Industries (NASDAQ:UFPI) had its target price boosted by Stifel Nicolaus from $125.00 to $157.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other equities analysts have also issued reports on the company. Wedbush reiterated a neutral rating and issued a $120.00 price target (up previously from $102.00) on shares of UFP Industries in a research note on Tuesday. Benchmark lowered their target price on UFP Industries from $137.00 to $133.00 and set a buy rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets lifted their price target on shares of UFP Industries from $115.00 to $125.00 and gave the company a market perform rating in a report on Wednesday. Finally, StockNews.com downgraded shares of UFP Industries from a strong-buy rating to a buy rating in a research note on Friday, July 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, UFP Industries currently has an average rating of Moderate Buy and an average price target of $132.60.

UFP Industries Stock Down 3.3 %

UFPI stock opened at $121.98 on Wednesday. UFP Industries has a 52 week low of $90.62 and a 52 week high of $136.93. The business has a 50-day simple moving average of $117.16 and a 200 day simple moving average of $116.61. The company has a quick ratio of 3.37, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. The company has a market cap of $7.53 billion, a PE ratio of 15.17 and a beta of 1.40.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.36 EPS. Sell-side analysts anticipate that UFP Industries will post 7.3 EPS for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, August 30th. UFP Industries’s payout ratio is 16.42%.

Insider Buying and Selling at UFP Industries

In related news, Director Bruce A. Merino sold 16,472 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total value of $1,941,719.36. Following the sale, the director now owns 7,107 shares of the company’s stock, valued at $837,773.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other UFP Industries news, Director Bruce A. Merino sold 16,472 shares of UFP Industries stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the transaction, the director now directly owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael R. Cole sold 1,452 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the completion of the sale, the chief financial officer now directly owns 165,155 shares of the company’s stock, valued at approximately $19,699,688.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,687 shares of company stock worth $3,831,653. 2.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of UFP Industries during the fourth quarter worth $86,885,000. Wells Fargo & Company MN grew its holdings in UFP Industries by 871.3% during the 4th quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock worth $51,741,000 after acquiring an additional 369,687 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of UFP Industries in the 1st quarter worth about $18,245,000. Henrickson Nauta Wealth Advisors Inc. lifted its stake in shares of UFP Industries by 82.3% in the 1st 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 period. Finally, Picton Mahoney Asset Management boosted its position in shares of UFP Industries by 103.3% during the 2nd quarter. Picton Mahoney Asset Management now owns 115,549 shares of the construction company’s stock valued at $12,941,000 after purchasing an additional 58,724 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

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.