Brokerages Set UFP Industries, Inc. (NASDAQ:UFPI) Target Price at $132.60

UFP Industries, Inc. (NASDAQ:UFPI) has earned a consensus recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $132.60.

Several research firms have recently commented on UFPI. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Stifel Nicolaus lifted their price target on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets raised their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Benchmark raised their price objective on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wedbush reissued a “neutral” rating and set a $120.00 price objective (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th.

Insider Buying and Selling at UFP Industries

In other news, insider Patrick M. Benton sold 11,725 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the transaction, the insider now directly owns 97,729 shares of the company’s stock, valued at $11,265,221.83. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On UFP Industries

Several institutional investors have recently added to or reduced their stakes in the business. TFG Advisers LLC lifted its stake in UFP Industries by 5.2% during the first quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock worth $230,000 after purchasing an additional 92 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in UFP Industries by 0.7% in the second quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock valued at $1,630,000 after buying an additional 105 shares during the last quarter. Cadence Bank lifted its stake in UFP Industries by 0.6% in the first quarter. Cadence Bank now owns 19,464 shares of the construction company’s stock valued at $2,394,000 after buying an additional 110 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in UFP Industries by 4.9% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,566 shares of the construction company’s stock valued at $322,000 after buying an additional 119 shares during the last quarter. Finally, Legacy Trust lifted its stake in UFP Industries by 1.1% in the first quarter. Legacy Trust now owns 11,009 shares of the construction company’s stock valued at $1,354,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Down 0.3 %

Shares of UFPI stock opened at $120.64 on Friday. The stock’s fifty day moving average is $118.51 and its two-hundred day moving average is $117.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. The firm has a market capitalization of $7.45 billion, a P/E ratio of 15.00 and a beta of 1.40. UFP Industries has a fifty-two week low of $90.62 and a fifty-two week high of $136.93.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.36 EPS. Research analysts expect that UFP Industries will post 7.24 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

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 given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Friday, August 30th. UFP Industries’s dividend payout ratio is currently 16.42%.

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.