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

UFP Industries (NASDAQ:UFPI) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Separately, Benchmark cut their price target on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.50.

UFP Industries Stock Down 0.1 %

NASDAQ UFPI traded down $0.09 on Thursday, hitting $109.28. The stock had a trading volume of 373,405 shares, compared to its average volume of 277,592. The business’s fifty day moving average price is $116.22 and its 200 day moving average price is $117.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.37. UFP Industries has a 52-week low of $90.62 and a 52-week high of $128.65. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 13.59 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company earned $1.98 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts anticipate that UFP Industries will post 7.53 earnings per share for the current year.

Insider Transactions at UFP Industries

In other news, Director Bruce A. Merino sold 16,472 shares of UFP Industries stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the completion of the sale, the director now directly owns 7,107 shares in the company, valued at $837,773.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Bruce A. Merino sold 16,472 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the completion of the transaction, the director now directly owns 7,107 shares in the company, valued at $837,773.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael R. Cole sold 1,452 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $119.28, for a total transaction of $173,194.56. Following the transaction, the chief financial officer now owns 165,155 shares of the company’s stock, valued at $19,699,688.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,687 shares of company stock worth $3,831,653. Company insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UFPI. Contravisory Investment Management Inc. acquired a new position in UFP Industries during the fourth quarter valued at $27,000. GAMMA Investing LLC acquired a new position in shares of UFP Industries in the fourth quarter worth about $30,000. Rise Advisors LLC acquired a new position in shares of UFP Industries in the first quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new position in shares of UFP Industries in the first quarter worth about $33,000. Finally, SRS Capital Advisors Inc. raised its position in shares of UFP Industries by 218.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock worth $36,000 after acquiring an additional 197 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

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.