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

StockNews.com downgraded shares of UFP Industries (NASDAQ:UFPI) from a strong-buy rating to a buy rating in a report published on Friday.

Separately, Benchmark decreased their price objective on shares of UFP Industries from $137.00 to $133.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, UFP Industries has an average rating of Moderate Buy and an average target price of $116.50.

UFP Industries Price Performance

Shares of UFPI opened at $108.75 on Friday. The company has a current ratio of 4.79, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $115.69 and its 200-day simple moving average is $116.50. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 13.53 and a beta of 1.40. UFP Industries has a twelve month low of $90.62 and a twelve month high of $128.65.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.98 EPS. Equities analysts forecast that UFP Industries will post 7.53 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.21%. UFP Industries’s dividend payout ratio (DPR) is 16.42%.

Insiders Place Their Bets

In related news, insider David A. Tutas sold 3,038 shares of UFP Industries stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $120.21, for a total value of $365,197.98. Following the sale, the insider now directly owns 21,374 shares in the company, valued at $2,569,368.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Bruce A. Merino sold 16,472 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total value of $1,941,719.36. Following the completion of the transaction, the director now directly owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Tutas sold 3,038 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total value of $365,197.98. Following the completion of the sale, the insider now directly owns 21,374 shares in the company, valued at approximately $2,569,368.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,687 shares of company stock worth $3,831,653. Company insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of UFP Industries in the fourth quarter valued at approximately $86,885,000. Wells Fargo & Company MN increased its position in UFP Industries by 871.3% during the fourth quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock worth $51,741,000 after buying an additional 369,687 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in UFP Industries during the first quarter worth $18,245,000. Henrickson Nauta Wealth Advisors Inc. lifted its position in shares of UFP Industries by 82.3% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock valued at $29,007,000 after acquiring an additional 114,166 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of UFP Industries by 133.2% in the fourth quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock valued at $23,623,000 after acquiring an additional 107,477 shares in the last quarter. 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.