UFP Industries, Inc. (NASDAQ:UFPI) Given Average Recommendation of “Hold” by Brokerages

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have been given a consensus recommendation of “Hold” by the six brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $103.75.

UFPI has been the topic of a number of recent research reports. Benchmark dropped their target price on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. DA Davidson reduced their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 1st. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, Stifel Nicolaus cut their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research report on Monday, May 11th.

UFP Industries Stock Performance

UFPI opened at $91.01 on Wednesday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 19.87 and a beta of 1.22. The business’s 50-day moving average price is $84.97 and its two-hundred day moving average price is $93.21. UFP Industries has a 1 year low of $77.89 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.26). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 earnings per share. Equities analysts expect that UFP Industries will post 4.57 EPS for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.6%. UFP Industries’s dividend payout ratio (DPR) is 31.44%.

Institutional Investors Weigh In On UFP Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of UFP Industries during the 4th quarter worth approximately $75,183,000. Wasatch Advisors LP grew its stake in shares of UFP Industries by 32.9% in the first quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock valued at $187,732,000 after buying an additional 504,609 shares in the last quarter. River Road Asset Management LLC grew its stake in shares of UFP Industries by 64.1% in the fourth quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock valued at $80,118,000 after buying an additional 343,830 shares in the last quarter. Millennium Management LLC increased its holdings in UFP Industries by 209.9% during the third quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after buying an additional 288,093 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in UFP Industries by 2,178.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock worth $19,423,000 after buying an additional 203,957 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.