UFP Industries (NASDAQ:UFPI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of UFP Industries (NASDAQ:UFPI) from a hold rating to a buy rating in a research report report published on Tuesday.

Separately, Wedbush restated an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Price Performance

Shares of UFPI stock opened at $134.32 on Tuesday. UFP Industries has a 12 month low of $107.49 and a 12 month high of $141.33. The company has a market capitalization of $8.16 billion, a P/E ratio of 18.48 and a beta of 1.41. The stock has a 50 day moving average of $131.75 and a two-hundred day moving average of $123.18. 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 (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share 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 analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, equities analysts expect that UFP Industries will post 6.88 EPS for the current year.

UFP Industries Dividend Announcement

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

Insider Buying and Selling at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now owns 314,450 shares in the company, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. grew its holdings in shares of UFP Industries by 300.0% during the third quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after purchasing an additional 144 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of UFP Industries in the second quarter valued at approximately $29,000. Signaturefd LLC lifted its holdings in UFP Industries by 31.8% during the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after buying an additional 76 shares in the last quarter. Triad Wealth Partners LLC bought a new position in UFP Industries in the 2nd quarter valued at $56,000. Finally, GAMMA Investing LLC increased its stake in shares of UFP Industries by 84.2% in the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after buying an additional 234 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

About UFP Industries

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.