UFP Industries, Inc. (NASDAQ:UFPI) Stock Has Average Target Price of $104.50

Key Points

• UFP Industries has a consensus “Hold” rating from seven analysts, with four holds and three buys. The average 12-month price target is $104.50.
• Institutional investors own approximately 81.81% of the company, with several funds recently increasing their positions.
• The stock opened at $74.21, near its 52-week low of $74.01, while the company’s latest quarterly results exceeded expectations with earnings of $1.48 per share versus the $1.37 consensus estimate. UFP also pays a quarterly dividend of $0.36 per share, yielding about 1.9%.

Shares of UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) have been given a consensus rating of "Hold" by the seven ratings firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $104.50.

Several research analysts have recently weighed in on the stock. Oppenheimer began coverage on shares of UFP Industries in a report on Wednesday, September 30th. They set a "market perform" rating for the company. Zacks Research upgraded shares of UFP Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of UFP Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Finally, Stifel Nicolaus set a $90.00 target price on shares of UFP Industries and gave the stock a "hold" rating in a research report on Monday, August 24th.

Hedge Funds Weigh In On UFP Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in UFP Industries by 15.0% in the third quarter. GAMMA Investing LLC now owns 1,004 shares of the construction company's stock worth $78,000 after purchasing an additional 131 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of UFP Industries by 141.0% during the 2nd 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 increased its position in shares of UFP Industries by 24.5% during the 2nd 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 increased its position in shares of 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. Finally, Nykredit A S purchased a new stake in shares of UFP Industries during the 2nd quarter valued at about $220,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Price Performance

NASDAQ UFPI opened at $74.21 on Monday. UFP Industries has a one year low of $74.01 and a one year high of $118.00. The stock has a 50-day moving average of $84.14 and a 200 day moving average of $86.16. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 17.02 and a beta of 1.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.11. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.79 billion. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. On average, sell-side analysts forecast that UFP Industries will post 4.47 EPS for the current year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 1st. UFP Industries's dividend payout ratio is presently 33.03%.

About UFP Industries

UFP Industries, Inc is a manufacturer and supplier of wood, composite and other products serving the retail, industrial and construction markets. The company's offerings include outdoor living products such as decking, fencing, landscaping and garden products, as well as structural and component products used in residential and commercial construction.

UFP Industries also provides pallets, crates, specialty wood packaging and other custom products for industrial customers. Its construction-related operations supply components for manufactured housing, residential construction, commercial building and recreational vehicles.

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