UFP Industries, Inc. (NASDAQ:UFPI) Stock Rated “Hold” by Sell-Side Brokerages

UFP Industries, Inc. (NASDAQ:UFPI) has earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $104.50.

Several equities research analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of UFP Industries in a research report on Wednesday, September 30th. They set a “market perform” rating for the company. Stifel Nicolaus set a $90.00 price target on shares of UFP Industries and gave the stock a “hold” rating in a research note on Monday, August 24th. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Finally, Weiss Ratings cut shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday.

UFP Industries Stock Up 1.2%

Shares of UFPI opened at $78.37 on Monday. The business’s fifty day moving average price is $82.54 and its two-hundred day moving average price is $85.69. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 17.97 and a beta of 1.22. UFP Industries has a 52 week low of $73.72 and a 52 week high of $118.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. On average, analysts predict that UFP Industries will post 4.47 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, September 1st. UFP Industries’s dividend payout ratio is currently 33.03%.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UFPI. IAG Wealth Partners LLC acquired a new position in shares of UFP Industries during the 1st quarter worth about $28,000. Root Financial Partners LLC raised its position in shares of UFP Industries by 86.0% in the 1st quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock valued at $29,000 after acquiring an additional 148 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of UFP Industries in the 1st quarter valued at approximately $40,000. Ameritas Advisory Services LLC acquired a new stake in shares of UFP Industries in the 2nd quarter valued at approximately $60,000. Finally, GAMMA Investing LLC boosted its stake in UFP Industries by 15.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,004 shares of the construction company’s stock worth $78,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc is a manufacturer and supplier of wood, composite and other products serving the retail, industrial and construction markets. The company’s offerings include outdoor living products such as decking, fencing, landscaping and garden products, as well as structural and component products used in residential and commercial construction.

UFP Industries also provides pallets, crates, specialty wood packaging and other custom products for industrial customers. Its construction-related operations supply components for manufactured housing, residential construction, commercial building and recreational vehicles.