UFP Industries (NASDAQ:UFPI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of UFP Industries (NASDAQ:UFPI) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

Separately, Wedbush reiterated an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Stock Performance

Shares of UFPI stock opened at $134.32 on Tuesday. The stock has a market cap of $8.16 billion, a PE ratio of 18.48 and a beta of 1.41. The stock has a 50-day moving average of $131.75 and a 200-day moving average of $123.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. UFP Industries has a one year low of $107.49 and a one year high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.25). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 EPS. As a group, sell-side analysts expect that UFP Industries will post 6.88 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.98%. UFP Industries’s payout ratio is 18.16%.

Insider Buying and Selling

In other news, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the sale, the chief executive officer now directly owns 314,450 shares in the company, valued at $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. boosted its position in UFP Industries by 300.0% during the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after acquiring an additional 144 shares during the last quarter. Headlands Technologies LLC acquired a new position in UFP Industries during the second quarter worth $29,000. Signaturefd LLC grew its position in UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after purchasing an additional 76 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in UFP Industries in the 2nd quarter valued at $56,000. Finally, GAMMA Investing LLC lifted its position in UFP Industries by 84.2% during the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds 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.