UFP Industries, Inc. (NASDAQ:UFPI) Receives $103.75 Consensus PT from Analysts

UFP Industries, Inc. (NASDAQ:UFPI) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $104.50.

UFPI has been the subject of a number of research analyst reports. Weiss Ratings raised UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research report on Tuesday, May 5th. Finally, Stifel Nicolaus set a $90.00 target price on shares of UFP Industries and gave the company a “hold” rating in a report on Monday, August 24th.

UFP Industries Stock Up 0.8%

Shares of NASDAQ UFPI opened at $86.01 on Friday. The business has a 50-day moving average of $88.28 and a two-hundred day moving average of $90.67. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 19.73 and a beta of 1.23. UFP Industries has a 1 year low of $77.89 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%.The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. On average, analysts forecast that UFP Industries will post 4.51 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.7%. UFP Industries’s payout ratio is 33.03%.

Hedge Funds Weigh In On UFP Industries

Several hedge funds have recently made changes to their positions in UFPI. BlackRock Inc. purchased a new stake in shares of UFP Industries in the 2nd quarter valued at about $688,063,000. Vanguard Group Inc. grew its stake in UFP Industries by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,117,218 shares of the construction company’s stock worth $556,973,000 after buying an additional 17,016 shares during the last quarter. California State Teachers Retirement System increased its position in UFP Industries by 8,982.8% during the second quarter. California State Teachers Retirement System now owns 5,932,672 shares of the construction company’s stock worth $538,331,000 after buying an additional 5,867,354 shares during the period. Wasatch Advisors LP increased its position in UFP Industries by 32.9% during the first quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock worth $187,732,000 after buying an additional 504,609 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in UFP Industries by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,909,315 shares of the construction company’s stock worth $173,847,000 after buying an additional 44,736 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

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.