UFP Industries, Inc. (NASDAQ:UFPI) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• UFP Industries received a “Moderate Buy” consensus rating from six analysts, split evenly between buy and hold recommendations, with an average 12-month price target of $104.50.
• The company beat quarterly expectations, reporting $1.48 in earnings per share versus the $1.37 consensus and revenue of $1.88 billion versus the $1.79 billion estimate.
• UFP Industries announced a quarterly dividend of $0.36 per share, equivalent to $1.44 annually and a 1.8% yield; institutional investors own approximately 81.8% of the stock.

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) has received a consensus rating of "Moderate Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $104.50.

Several analysts have weighed in on UFPI shares. Weiss Ratings raised shares of UFP Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Stifel Nicolaus set a $90.00 price objective on shares of UFP Industries and gave the company a "hold" rating in a report on Monday, August 24th. Finally, Zacks Research raised UFP Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st.

UFP Industries Trading Down 0.5%

Shares of NASDAQ:UFPI opened at $82.01 on Thursday. The business's 50-day moving average is $86.78 and its 200 day moving average is $87.90. UFP Industries has a 1 year low of $77.89 and a 1 year high of $118.00. The firm has a market capitalization of $4.52 billion, a P/E ratio of 18.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.79 billion. On average, research analysts predict 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 paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, September 1st. UFP Industries's payout ratio is presently 33.03%.

Institutional Trading of UFP Industries

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

About UFP Industries

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.

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