Benchmark Increases UFP Industries (NASDAQ:UFPI) Price Target to $155.00

UFP Industries (NASDAQ:UFPI) had its price objective upped by Benchmark from $133.00 to $155.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets lifted their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a market perform rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a buy rating in a research report on Wednesday. Wedbush reaffirmed a neutral rating and set a $120.00 price objective (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Finally, StockNews.com cut shares of UFP Industries from a strong-buy rating to a buy rating in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $132.60.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $121.98 on Wednesday. The company has a fifty day simple moving average of $117.16 and a two-hundred day simple moving average of $116.62. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 15.17 and a beta of 1.40. The company has a quick ratio of 3.37, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. UFP Industries has a 52 week low of $90.62 and a 52 week high of $136.93.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The business 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 company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.36 earnings per share. As a group, equities analysts anticipate that UFP Industries will post 7.3 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a yield of 1.08%. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

Insider Activity 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 completion of the sale, the director now directly owns 7,107 shares of the company’s stock, valued at $837,773.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Bruce A. Merino sold 16,472 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 7,107 shares of the company’s stock, valued at $837,773.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Tutas sold 3,038 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total transaction of $365,197.98. Following the completion of the sale, the insider now directly owns 21,374 shares of the company’s stock, valued at $2,569,368.54. The disclosure for this sale can be found here. Insiders sold a total of 32,687 shares of company stock valued at $3,831,653 over the last ninety days. Insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of UFP Industries by 559.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 38,348 shares of the construction company’s stock worth $4,815,000 after acquiring an additional 32,534 shares during the period. Blue Trust Inc. increased its stake in shares of UFP Industries by 25.6% during the fourth quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock worth $75,000 after acquiring an additional 121 shares during the period. Global Retirement Partners LLC increased its stake in shares of UFP Industries by 46.2% during the fourth quarter. Global Retirement Partners LLC now owns 440 shares of the construction company’s stock worth $51,000 after acquiring an additional 139 shares during the period. Meeder Asset Management Inc. increased its stake in shares of UFP Industries by 357.9% during the fourth quarter. Meeder Asset Management Inc. now owns 4,643 shares of the construction company’s stock worth $583,000 after acquiring an additional 3,629 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in shares of UFP Industries by 1.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 201,908 shares of the construction company’s stock worth $25,350,000 after acquiring an additional 2,091 shares during the period. 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.