Analysts Set UFP Industries, Inc. (NASDAQ:UFPI) PT at $105.40

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $105.40.

Several analysts have recently issued reports on the company. DA Davidson decreased their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Benchmark decreased their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Stifel Nicolaus decreased their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Finally, BMO Capital Markets upgraded 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.

Institutional Trading of UFP Industries

Several large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its stake in UFP Industries by 16.5% during the 1st quarter. NewEdge Advisors LLC now owns 4,984 shares of the construction company’s stock valued at $459,000 after purchasing an additional 706 shares during the period. Edgestream Partners L.P. bought a new stake in UFP Industries during the 1st quarter valued at approximately $713,000. California State Teachers Retirement System boosted its stake in UFP Industries by 18.5% during the 1st quarter. California State Teachers Retirement System now owns 65,318 shares of the construction company’s stock valued at $6,017,000 after purchasing an additional 10,207 shares during the period. Royal Bank of Canada boosted its stake in UFP Industries by 50.2% during the 1st quarter. Royal Bank of Canada now owns 52,008 shares of the construction company’s stock valued at $4,792,000 after purchasing an additional 17,376 shares during the period. Finally, Empowered Funds LLC boosted its stake in UFP Industries by 198.8% during the 1st quarter. Empowered Funds LLC now owns 6,164 shares of the construction company’s stock valued at $568,000 after purchasing an additional 4,101 shares during the period. Institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $84.56 on Tuesday. The business’s 50-day moving average price is $86.94 and its two-hundred day moving average price is $94.39. 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 has a one year low of $77.89 and a one year high of $118.00. The company has a market capitalization of $4.78 billion, a P/E ratio of 18.46 and a beta of 1.24.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.51 billion. UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 EPS. Analysts anticipate that UFP Industries will post 4.6 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, June 1st. UFP Industries’s dividend payout ratio is 31.44%.

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.