UFP Industries’ (UFPI) “Buy” Rating Reiterated at Benchmark

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $135.00 price target on the construction company’s stock. Benchmark’s price objective would suggest a potential upside of 17.96% from the stock’s current price.

UFPI has been the topic of several other research reports. StockNews.com raised UFP Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wedbush reissued an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $114.45 on Wednesday. UFP Industries has a 1-year low of $107.25 and a 1-year high of $141.33. The firm has a market capitalization of $6.95 billion, a PE ratio of 15.74 and a beta of 1.45. The business’s 50 day moving average is $115.84 and its 200-day moving average is $123.25. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling

In related news, Director William G. Currie sold 5,700 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UFP Industries

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its position in UFP Industries by 31.8% in the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after purchasing an additional 76 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in UFP Industries in the 3rd quarter valued at $70,000. Jones Financial Companies Lllp raised its position in UFP Industries by 357.8% in the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after purchasing an additional 415 shares during the last quarter. Smartleaf Asset Management LLC raised its position in UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after purchasing an additional 505 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in UFP Industries in the 4th quarter valued at $61,000. Institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

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.