UFP Industries (NASDAQ:UFPI) Price Target Cut to $133.00

UFP Industries (NASDAQ:UFPI) had its price objective decreased by Benchmark from $137.00 to $133.00 in a report issued on Wednesday morning, Benzinga reports. Benchmark currently has a buy rating on the construction company’s stock.

A number of other research analysts have also recently issued reports on the company. StockNews.com cut UFP Industries from a strong-buy rating to a buy rating in a research note on Thursday, April 4th. Stifel Nicolaus lifted their price target on UFP Industries from $115.00 to $125.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Finally, Wedbush reiterated a neutral rating and issued a $102.00 price objective on shares of UFP Industries in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, UFP Industries currently has an average rating of Moderate Buy and an average target price of $113.20.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $116.65 on Wednesday. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 14.51 and a beta of 1.47. The stock’s 50-day moving average is $115.89 and its 200 day moving average is $113.89. The company has a current ratio of 4.79, a quick ratio of 3.12 and a debt-to-equity ratio of 0.07. UFP Industries has a 1-year low of $77.47 and a 1-year high of $128.65.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $1.98 EPS. The business’s quarterly revenue was down 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that UFP Industries will post 7.37 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, May 31st. UFP Industries’s payout ratio is currently 16.42%.

Insiders Place Their Bets

In other news, CEO Matthew J. Missad sold 5,018 shares of UFP Industries stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total transaction of $572,302.90. Following the sale, the chief executive officer now owns 363,328 shares of the company’s stock, valued at approximately $41,437,558.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in UFPI. Contravisory Investment Management Inc. purchased a new position in UFP Industries during the fourth quarter valued at $27,000. GAMMA Investing LLC purchased a new position in UFP Industries during the 4th quarter valued at about $30,000. Rise Advisors LLC bought a new stake in UFP Industries during the first quarter worth about $33,000. Opal Wealth Advisors LLC purchased a new stake in UFP Industries in the first quarter worth about $33,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of UFP Industries by 218.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

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.