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

StockNews.com downgraded shares of UFP Industries (NASDAQ:UFPI) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

UFPI has been the subject of a number of other research reports. Wedbush reiterated an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. Benchmark reiterated a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Stock Performance

Shares of UFPI stock opened at $112.89 on Wednesday. The stock’s fifty day simple moving average is $115.46 and its 200-day simple moving average is $123.18. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 15.53 and a beta of 1.45. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries has a 1-year low of $107.25 and a 1-year high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. On average, sell-side analysts predict that UFP Industries will post 6.88 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.24%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date is Monday, March 3rd. UFP Industries’s payout ratio is currently 20.68%.

Insider Activity

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the company’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 directly owns 314,450 shares in the company, valued at $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is owned by insiders.

Institutional Investors Weigh In On UFP Industries

Hedge funds have recently modified their holdings of the business. GTS Securities LLC bought a new stake in UFP Industries in the 4th quarter valued at $303,000. Palisades Investment Partners LLC raised its position in shares of UFP Industries by 9.3% during the fourth quarter. Palisades Investment Partners LLC now owns 22,827 shares of the construction company’s stock valued at $2,571,000 after buying an additional 1,948 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of UFP Industries by 17.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,166 shares of the construction company’s stock valued at $13,199,000 after buying an additional 17,669 shares during the period. Twinbeech Capital LP grew its position in UFP Industries by 745.7% during the fourth quarter. Twinbeech Capital LP now owns 65,727 shares of the construction company’s stock worth $7,404,000 after buying an additional 57,955 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its stake in UFP Industries by 10.0% during the fourth quarter. Snowden Capital Advisors LLC now owns 3,512 shares of the construction company’s stock valued at $396,000 after acquiring an additional 318 shares during the period. 81.81% of the stock is owned by 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.