UFP Industries (NASDAQ:UFPI) Price Target Cut to $133.00 by Analysts at Benchmark

UFP Industries (NASDAQ:UFPI - Free Report) had its price objective decreased by Benchmark from $137.00 to $133.00 in a research note released on Wednesday morning, Benzinga reports. Benchmark currently has a buy rating on the construction company's stock.

UFPI has been the subject of several other reports. StockNews.com lowered shares of UFP Industries from a strong-buy rating to a buy rating in a report on Thursday, April 4th. Wedbush reissued a neutral rating and set a $102.00 price objective on shares of UFP Industries in a report on Thursday, February 22nd. Finally, Stifel Nicolaus raised their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, UFP Industries presently has a consensus rating of Moderate Buy and a consensus target price of $113.20.

UFP Industries Stock Up 0.3 %

UFPI traded up $0.30 during trading hours on Wednesday, reaching $113.00. 277,634 shares of the stock traded hands, compared to its average volume of 284,001. The firm's fifty day simple moving average is $115.66 and its two-hundred day simple moving average is $113.67. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 13.80 and a beta of 1.49. UFP Industries has a fifty-two week low of $76.89 and a fifty-two week high of $128.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.34. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the business earned $1.98 EPS. As a group, analysts forecast that UFP Industries will post 7.4 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.17%. UFP Industries's payout ratio is currently 16.38%.

Insider Transactions at UFP Industries

In related 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 value of $572,302.90. Following the sale, the chief executive officer now directly owns 363,328 shares in the company, valued at approximately $41,437,558.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.58% of the company's stock.

Institutional Trading of UFP Industries

Several hedge funds have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in UFP Industries by 716.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company's stock valued at $159,876,000 after purchasing an additional 1,370,105 shares during the last quarter. Northern Trust Corp lifted its position in UFP Industries by 0.9% in the 3rd quarter. Northern Trust Corp now owns 1,111,025 shares of the construction company's stock valued at $113,769,000 after purchasing an additional 10,326 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of UFP Industries by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 753,559 shares of the construction company's stock worth $94,609,000 after buying an additional 4,300 shares in the last quarter. Norges Bank bought a new stake in shares of UFP Industries during the 4th quarter worth about $86,885,000. Finally, AQR Capital Management LLC raised its position in shares of UFP Industries by 93.0% during the 3rd quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company's stock worth $69,544,000 after buying an additional 327,220 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

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.