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

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

A number of other research firms also recently issued reports on UFPI. StockNews.com downgraded shares of UFP Industries from a strong-buy rating to a buy rating in a research report on Thursday, April 4th. Stifel Nicolaus upped their target price on UFP Industries from $115.00 to $125.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Finally, Wedbush reaffirmed a neutral rating and set a $102.00 price target on shares of UFP Industries in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $113.20.

UFP Industries Price Performance

UFPI opened at $116.65 on Wednesday. The firm has a market capitalization of $7.18 billion, a P/E ratio of 14.51 and a beta of 1.47. The stock has a fifty day moving average of $115.80 and a 200-day moving average of $113.68. The company has a quick ratio of 3.12, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. UFP Industries has a 12-month low of $77.47 and a 12-month high of $128.65.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.34. The company had revenue of $1.64 billion for 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 revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 EPS. Equities analysts forecast that UFP Industries will post 7.4 EPS for the current fiscal year.

UFP Industries Announces Dividend

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

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 5,018 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 2.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UFP Industries

Hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in UFP Industries by 716.7% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock worth $159,876,000 after acquiring an additional 1,370,105 shares during the last quarter. Norges Bank bought a new position in UFP Industries in the 4th quarter valued at approximately $86,885,000. Wells Fargo & Company MN lifted its holdings in shares of 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 purchasing an additional 369,687 shares during the period. AQR Capital Management LLC grew its position in shares of UFP Industries by 93.0% in the 3rd quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company’s stock valued at $69,544,000 after buying an additional 327,220 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in UFP Industries by 31.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 749,259 shares of the construction company’s stock worth $76,724,000 after purchasing an additional 179,323 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

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.