UFP Industries (NASDAQ:UFPI) Given “Hold (C-)” Rating at Weiss Ratings

Weiss Ratings reiterated their hold (c-) rating on shares of UFP Industries (NASDAQ:UFPI) in a report issued on Thursday morning,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on UFPI. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Stifel Nicolaus set a $95.00 price target on shares of UFP Industries and gave the company a “hold” rating in a research report on Wednesday, October 8th. Finally, Loop Capital initiated coverage on shares of UFP Industries in a research report on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price target for the company. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $124.25.

UFP Industries Trading Up 2.0%

Shares of NASDAQ UFPI opened at $91.80 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. UFP Industries has a 52-week low of $88.78 and a 52-week high of $141.33. The firm has a 50 day moving average price of $95.75 and a two-hundred day moving average price of $99.18. The stock has a market cap of $5.38 billion, a P/E ratio of 16.97 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.08). UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the company posted $1.64 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts forecast that UFP Industries will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, December 1st. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. UFP Industries’s dividend payout ratio is presently 25.88%.

Institutional Investors Weigh In On UFP Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of UFP Industries by 17.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company’s stock valued at $401,550,000 after purchasing an additional 568,741 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in UFP Industries by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,917,463 shares of the construction company’s stock worth $205,237,000 after purchasing an additional 25,903 shares during the period. Boston Partners grew its holdings in UFP Industries by 25.7% in the second quarter. Boston Partners now owns 1,847,503 shares of the construction company’s stock worth $183,569,000 after purchasing an additional 378,203 shares during the period. Geode Capital Management LLC grew its holdings in UFP Industries by 2.4% in the second quarter. Geode Capital Management LLC now owns 1,594,161 shares of the construction company’s stock worth $158,413,000 after purchasing an additional 37,534 shares during the period. Finally, Wasatch Advisors LP grew its holdings in UFP Industries by 5.1% in the second quarter. Wasatch Advisors LP now owns 1,408,538 shares of the construction company’s stock worth $139,952,000 after purchasing an additional 67,849 shares during the period. Institutional investors 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.