UFP Industries, Inc. (NASDAQ:UFPI) Given Consensus Rating of “Moderate Buy” by Brokerages

UFP Industries, Inc. (NASDAQ:UFPI) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $104.50.

UFPI has been the subject of a number of research reports. Weiss Ratings raised UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Stifel Nicolaus set a $90.00 target price on UFP Industries and gave the stock a “hold” rating in a research report on Monday, August 24th. Finally, Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st.

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $81.78 on Thursday. The firm has a market capitalization of $4.51 billion, a P/E ratio of 18.76 and a beta of 1.22. The firm’s 50-day moving average price is $86.42 and its 200-day moving average price is $87.23. The company has a current ratio of 3.98, a quick ratio of 2.64 and a debt-to-equity ratio of 0.07. UFP Industries has a 1-year low of $77.89 and a 1-year high of $118.00.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%.The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.79 billion. Equities research analysts anticipate that UFP Industries will post 4.51 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 1.8%. UFP Industries’s dividend payout ratio is presently 33.03%.

Institutional Investors Weigh In On UFP Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its holdings in shares of UFP Industries by 141.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,076 shares of the construction company’s stock worth $551,000 after acquiring an additional 3,555 shares during the last quarter. NewEdge Advisors LLC lifted its position in UFP Industries by 24.5% in the 2nd quarter. NewEdge Advisors LLC now owns 6,204 shares of the construction company’s stock valued at $563,000 after acquiring an additional 1,220 shares in the last quarter. Squarepoint Ops LLC boosted its stake in UFP Industries by 182.1% during the 2nd quarter. Squarepoint Ops LLC now owns 82,360 shares of the construction company’s stock valued at $7,473,000 after purchasing an additional 53,166 shares during the last quarter. Nykredit A S acquired a new position in UFP Industries during the 2nd quarter valued at about $220,000. Finally, Corient Private Wealth LP increased its holdings in UFP Industries by 22.9% during the 2nd quarter. Corient Private Wealth LP now owns 7,181 shares of the construction company’s stock worth $652,000 after purchasing an additional 1,336 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

UFP Industries Company Profile

UFP Industries, Inc is a manufacturer and distributor of wood, composite and other products serving the construction, industrial and retail sectors. The company operates through businesses focused on supplying materials and finished products for residential and commercial construction, outdoor living, manufactured housing, packaging and industrial applications.

Its product offerings include pressure-treated lumber, engineered wood components, decking, fencing, lawn and garden products, trusses, wood pallets, crates and other custom packaging solutions.