UFP Industries (NASDAQ:UFPI) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of UFP Industries (NASDAQ:UFPI – Get Rating) in a research report released on Thursday morning. The brokerage issued a buy rating on the construction company’s stock.

Separately, Benchmark raised their price target on UFP Industries from $85.00 to $102.00 and gave the stock a buy rating in a research report on Thursday, February 23rd.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $77.34 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.70 and a quick ratio of 2.11. The stock’s fifty day moving average price is $87.57 and its two-hundred day moving average price is $80.14. UFP Industries has a one year low of $64.13 and a one year high of $99.40. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 7.04 and a beta of 1.50.

UFP Industries (NASDAQ:UFPI – Get Rating) last released its earnings results on Tuesday, February 21st. The construction company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.37. UFP Industries had a return on equity of 28.83% and a net margin of 7.20%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the firm posted $2.19 EPS. UFP Industries’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities analysts forecast that UFP Industries will post 7.61 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date was Tuesday, February 28th. UFP Industries’s payout ratio is 9.10%.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $79.03, for a total transaction of $790,300.00. Following the completion of the transaction, the chief executive officer now owns 370,545 shares of the company’s stock, valued at $29,284,171.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other UFP Industries news, insider Patrick M. Benton sold 13,161 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $83.55, for a total value of $1,099,601.55. Following the completion of the transaction, the insider now directly owns 123,046 shares in the company, valued at $10,280,493.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Missad sold 10,000 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $79.03, for a total value of $790,300.00. Following the completion of the transaction, the chief executive officer now owns 370,545 shares of the company’s stock, valued at $29,284,171.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,591 shares of company stock valued at $7,106,975. 3.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UFP Industries

Large investors have recently bought and sold shares of the company. Ronald Blue Trust Inc. raised its position in UFP Industries by 550.8% in the third quarter. Ronald Blue Trust Inc. now owns 423 shares of the construction company’s stock valued at $29,000 after purchasing an additional 358 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in UFP Industries by 87.5% in the third quarter. TCI Wealth Advisors Inc. now owns 497 shares of the construction company’s stock valued at $36,000 after purchasing an additional 232 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in UFP Industries in the fourth quarter valued at about $59,000. Point72 Hong Kong Ltd bought a new position in UFP Industries in the first quarter valued at about $62,000. Finally, IFP Advisors Inc raised its position in UFP Industries by 78.9% in the third quarter. IFP Advisors Inc now owns 1,227 shares of the construction company’s stock valued at $67,000 after purchasing an additional 541 shares during the last quarter. 81.69% of the stock is currently owned by institutional investors.

UFP Industries Company Profile

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UFP Industries, Inc manufactures and distributes wood and wood alternative products. It operates through the following segments: Retail, Industrial and Construction. The Retail segment comprises national home center retailers, retail-oriented regional lumberyards and contractor-oriented lumberyards. The Industrial segment manufacturers pallets, specialty crates, wooden boxes, and other containers used for packaging, shipping and material handling purposes.