UFP Industries (NASDAQ:UFPI) Cut to “Hold” at StockNews.com

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 morning.

A number of other brokerages have also issued reports on UFPI. Stifel Nicolaus upped their price objective 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. BMO Capital Markets upped their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Wedbush reissued an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. Finally, Benchmark upped their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Price Performance

UFP Industries stock opened at $135.26 on Monday. UFP Industries has a 52-week low of $107.49 and a 52-week high of $141.33. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 18.61 and a beta of 1.39. The company has a fifty day simple moving average of $131.53 and a 200-day simple moving average of $122.86. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07.

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

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.98%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the 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 transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.58% of the stock is currently owned by insiders.

Institutional Trading of UFP Industries

Several hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in shares of UFP Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock worth $169,675,000 after purchasing an additional 188,969 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of UFP Industries by 6.6% during the third quarter. Sanctuary Advisors LLC now owns 10,897 shares of the construction company’s stock worth $1,450,000 after purchasing an additional 674 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of UFP Industries by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock worth $200,553,000 after purchasing an additional 14,857 shares in the last quarter. Vestcor Inc lifted its position in shares of UFP Industries by 2.4% during the third quarter. Vestcor Inc now owns 11,096 shares of the construction company’s stock worth $1,456,000 after purchasing an additional 261 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of UFP Industries by 17.3% during the third quarter. M&T Bank Corp now owns 3,029 shares of the construction company’s stock worth $397,000 after purchasing an additional 446 shares in the last quarter. Institutional investors and hedge funds 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.