DA Davidson Cuts UFP Industries (NASDAQ:UFPI) Price Target to $110.00

UFP Industries (NASDAQ:UFPI) had its target price trimmed by DA Davidson from $112.00 to $110.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

UFPI has been the topic of a number of other reports. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Stifel Nicolaus set a $98.00 target price on UFP Industries in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, UFP Industries has an average rating of “Hold” and a consensus target price of $106.67.

UFP Industries Trading Down 0.9%

Shares of UFPI opened at $89.75 on Tuesday. The business has a 50-day moving average of $104.37 and a 200 day moving average of $97.38. UFP Industries has a fifty-two week low of $87.11 and a fifty-two week high of $118.00. The firm has a market cap of $5.10 billion, a P/E ratio of 17.99 and a beta of 1.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.13 and a current ratio of 4.59.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Monday, February 23rd. The construction company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.33). The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. UFP Industries’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the company earned $1.12 earnings per share. As a group, research analysts forecast that UFP Industries will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.6%. UFP Industries’s payout ratio is currently 28.86%.

Hedge Funds Weigh In On UFP Industries

Several hedge funds have recently bought and sold shares of UFPI. Geneos Wealth Management Inc. lifted its stake in UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after purchasing an additional 114 shares in the last quarter. Signaturefd LLC grew its position in shares of UFP Industries by 66.1% during the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock valued at $35,000 after purchasing an additional 154 shares in the last quarter. Danske Bank A S increased its holdings in shares of UFP Industries by 300.0% in the fourth quarter. Danske Bank A S now owns 400 shares of the construction company’s stock worth $36,000 after purchasing an additional 300 shares during the period. IFP Advisors Inc increased its holdings in shares of UFP Industries by 84.8% in the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock worth $38,000 after purchasing an additional 190 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of UFP Industries by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock worth $38,000 after buying an additional 223 shares in the last quarter. 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.