UFP Industries (NASDAQ:UFPI) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of UFP Industries (NASDAQ:UFPI) from a buy rating to a hold rating in a research report sent to investors on Monday.

A number of other brokerages have also recently commented on UFPI. BMO Capital Markets raised their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. Stifel Nicolaus increased their price target on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Benchmark raised their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Stock Up 4.5 %

UFPI stock opened at $139.02 on Monday. UFP Industries has a fifty-two week low of $107.49 and a fifty-two week high of $141.33. The business’s 50 day moving average price is $131.16 and its two-hundred day moving average price is $122.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 19.12 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.25). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.10 EPS. As a group, analysts forecast that UFP Industries will post 6.89 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 0.95%. UFP Industries’s dividend payout ratio is presently 18.16%.

Insider Activity at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the completion of the sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.58% of the stock is currently owned by insiders.

Institutional Trading of UFP Industries

Several large investors have recently bought and sold shares of UFPI. UMB Bank n.a. increased its holdings in UFP Industries by 300.0% in the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock valued at $25,000 after purchasing an additional 144 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of UFP Industries during the 2nd quarter worth $29,000. Signaturefd LLC lifted its position in shares of UFP Industries by 31.8% during the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after purchasing an additional 76 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of UFP Industries during the 2nd quarter worth $56,000. Finally, GAMMA Investing LLC raised its stake in UFP Industries by 84.2% during the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after acquiring an additional 234 shares in the last quarter. Hedge funds and other 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.