UFP Industries (NASDAQ:UFPI) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of UFP Industries (NASDAQ:UFPI) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks reports.

Other analysts have also issued research reports about the company. DA Davidson reissued a “buy” rating and set a $105.00 price target on shares of UFP Industries in a report on Tuesday, October 27th. Oppenheimer assumed coverage on UFP Industries in a research note on Wednesday, September 30th. They issued a “market perform” rating on the stock. Stifel Nicolaus set a $85.00 price objective on UFP Industries and gave the company a “hold” rating in a research report on Monday, October 26th. Finally, Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, October 12th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $103.25.

UFP Industries Trading Up 6.3%

Shares of UFP Industries stock opened at $86.31 on Tuesday. The company’s fifty day simple moving average is $80.43 and its 200-day simple moving average is $89.36. The stock has a market capitalization of $4.76 billion, a PE ratio of 20.95 and a beta of 1.14. UFP Industries has a 1-year low of $73.72 and a 1-year high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.86 and a quick ratio of 2.58.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, October 28th. The construction company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.15). UFP Industries had a return on equity of 7.53% and a net margin of 3.61%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.60 billion. As a group, equities analysts anticipate that UFP Industries will post 4.26 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, December 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.7%. UFP Industries’s payout ratio is 34.95%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of UFP Industries in the second quarter worth $688,063,000. Bank of New York Mellon Corp purchased a new position in UFP Industries during the second quarter valued at $34,067,000. Bank of America Corp DE purchased a new position in UFP Industries during the second quarter valued at $25,529,000. Sei Investments Co. increased its holdings in UFP Industries by 19.1% in the 1st quarter. Sei Investments Co. now owns 262,394 shares of the construction company’s stock valued at $24,171,000 after acquiring an additional 42,171 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in UFP Industries by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 131,045 shares of the construction company’s stock valued at $12,072,000 after acquiring an additional 4,806 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

About UFP Industries

UFP Industries, Inc is a diversified manufacturer and distributor of wood, composite and other products serving the retail, construction and industrial markets. The company supplies materials and components used in outdoor living, residential and commercial construction, manufactured housing, packaging and a range of industrial applications.

Its products include treated lumber, decking, fencing, landscaping products, roof trusses, wall panels, wood components, pallets, crates, specialty packaging and other custom-engineered products.