Brokerages Set UFP Industries, Inc. (NASDAQ:UFPI) Target Price at $114.25

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have earned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $114.25.

A number of analysts recently weighed in on UFPI shares. Stifel Nicolaus set a $98.00 price target on shares of UFP Industries in a report on Tuesday, December 2nd. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. Finally, DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $112.00 in a report on Friday, October 31st.

UFP Industries Price Performance

UFP Industries stock opened at $107.89 on Friday. The business’s fifty day moving average is $93.42 and its two-hundred day moving average is $96.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. The firm has a market cap of $6.29 billion, a P/E ratio of 19.94 and a beta of 1.49. UFP Industries has a 52 week low of $87.11 and a 52 week high of $119.83.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.18%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 earnings per share. Equities research analysts forecast that UFP Industries will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 1st. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. UFP Industries’s payout ratio is currently 25.88%.

Insider Activity at UFP Industries

In related news, Chairman Matthew J. Missad sold 11,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the transaction, the chairman directly owned 310,533 shares in the company, valued at $28,649,774.58. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the sale, the director directly owned 14,697 shares of the company’s stock, valued at $1,373,140.71. This represents a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UFPI. Geneos Wealth Management Inc. grew its position in shares of UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after purchasing an additional 114 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in UFP Industries by 648.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock valued at $41,000 after buying an additional 376 shares in the last quarter. Winnow Wealth LLC acquired a new position in shares of UFP Industries in the third quarter valued at approximately $51,000. Caitong International Asset Management Co. Ltd increased its position in shares of UFP Industries by 24.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock worth $52,000 after acquiring an additional 102 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of UFP Industries by 90.9% during the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after acquiring an additional 259 shares during the period. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Company Profile

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.