UFP Industries (NASDAQ:UFPI) Upgraded at StockNews.com

StockNews.com upgraded shares of UFP Industries (NASDAQ:UFPI) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Separately, Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, UFP Industries has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $132.08 on Tuesday. UFP Industries has a twelve month low of $107.49 and a twelve month high of $141.33. The company has a market cap of $8.02 billion, a P/E ratio of 18.17 and a beta of 1.41. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $131.90 and its 200-day moving average price is $123.40.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 EPS 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 analyst estimates of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. UFP Industries’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 EPS. On average, sell-side analysts forecast that UFP Industries will post 6.88 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.00%. UFP Industries’s dividend payout ratio is currently 18.16%.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.58% of the stock is owned by insiders.

Institutional Trading of UFP Industries

A number of institutional investors and hedge funds have recently bought and sold shares of UFPI. UMB Bank n.a. increased its holdings in UFP Industries by 300.0% during the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after purchasing an additional 144 shares during the period. Headlands Technologies LLC acquired a new stake in shares of UFP Industries during the second quarter worth about $29,000. Signaturefd LLC boosted its holdings in shares of UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after acquiring an additional 76 shares during the period. Triad Wealth Partners LLC purchased a new stake in UFP Industries in the 2nd quarter valued at $56,000. Finally, GAMMA Investing LLC increased its stake in UFP Industries by 84.2% in the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after purchasing an additional 234 shares during the period. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

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.