UFP Industries (NASDAQ:UFPI) PT Raised to $125.00 at BMO Capital Markets

UFP Industries (NASDAQ:UFPI) had its price target increased by BMO Capital Markets from $115.00 to $125.00 in a report released on Wednesday, Benzinga reports. They currently have a market perform rating on the construction company’s stock.

A number of other equities analysts have also recently weighed in on UFPI. Wedbush reaffirmed a neutral rating and set a $120.00 price target (up from $102.00) on shares of UFP Industries in a research note on Tuesday, July 30th. Benchmark lowered their price target on shares of UFP Industries from $137.00 to $133.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Finally, StockNews.com cut shares of UFP Industries from a strong-buy rating to a buy rating in a research note on Friday, July 5th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries currently has a consensus rating of Moderate Buy and a consensus price target of $132.60.

UFP Industries Stock Performance

Shares of UFPI opened at $121.98 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 4.34. The stock has a market capitalization of $7.53 billion, a P/E ratio of 15.17 and a beta of 1.40. The company’s fifty day moving average is $117.16 and its two-hundred day moving average is $116.62. UFP Industries has a 1 year low of $90.62 and a 1 year high of $136.93.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company posted $2.36 EPS. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, sell-side analysts predict that UFP Industries will post 7.3 earnings per share for the current year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be issued a $0.33 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a yield of 1.08%. UFP Industries’s dividend payout ratio (DPR) is 16.42%.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, insider David A. Tutas sold 3,038 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total value of $365,197.98. Following the transaction, the insider now directly owns 21,374 shares in the company, valued at approximately $2,569,368.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Patrick M. Benton sold 11,725 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the transaction, the insider now directly owns 97,729 shares in the company, valued at approximately $11,265,221.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Tutas sold 3,038 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $120.21, for a total transaction of $365,197.98. Following the transaction, the insider now owns 21,374 shares in the company, valued at $2,569,368.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,687 shares of company stock worth $3,831,653. Corporate insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Fortem Financial Group LLC lifted its holdings in shares of UFP Industries by 2.8% during the 2nd quarter. Fortem Financial Group LLC now owns 6,124 shares of the construction company’s stock worth $686,000 after acquiring an additional 166 shares during the period. Harfst & Associates Inc. lifted its holdings in shares of UFP Industries by 2.8% during the 2nd quarter. Harfst & Associates Inc. now owns 22,848 shares of the construction company’s stock worth $2,559,000 after acquiring an additional 627 shares during the period. Natixis Advisors LLC lifted its holdings in shares of UFP Industries by 19.6% during the 2nd quarter. Natixis Advisors LLC now owns 29,278 shares of the construction company’s stock worth $3,279,000 after acquiring an additional 4,805 shares during the period. Aptus Capital Advisors LLC increased its position in UFP Industries by 24.6% during the 2nd quarter. Aptus Capital Advisors LLC now owns 50,761 shares of the construction company’s stock worth $5,685,000 after purchasing an additional 10,034 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in UFP Industries during the 2nd quarter worth approximately $291,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

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.