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

Shares of UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) have received an average rating of "Hold" from the six analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $103.75.

Several equities analysts have recently issued reports on UFPI shares. Benchmark decreased their price target on shares of UFP Industries from $125.00 to $115.00 and set a "buy" rating for the company in a report on Friday, May 1st. Weiss Ratings lowered UFP Industries from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 2nd. DA Davidson reduced their target price on UFP Industries from $110.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, May 1st. BMO Capital Markets raised UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 target price for the company in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus lowered their price target on UFP Industries from $100.00 to $87.00 and set a "hold" rating for the company in a report on Monday, May 11th.

Institutional Trading of UFP Industries

Several hedge funds have recently bought and sold shares of the stock. Wedge Capital Management L L P NC raised its holdings in UFP Industries by 5.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 81,104 shares of the construction company's stock worth $7,359,000 after buying an additional 4,165 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of UFP Industries by 26.0% in the second quarter. Confluence Investment Management LLC now owns 16,254 shares of the construction company's stock valued at $1,475,000 after buying an additional 3,354 shares during the period. Empowered Funds LLC boosted its holdings in shares of UFP Industries by 198.8% in the first quarter. Empowered Funds LLC now owns 6,164 shares of the construction company's stock valued at $568,000 after buying an additional 4,101 shares during the period. NewEdge Advisors LLC increased its position in shares of UFP Industries by 16.5% during the first quarter. NewEdge Advisors LLC now owns 4,984 shares of the construction company's stock worth $459,000 after acquiring an additional 706 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of UFP Industries during the first quarter worth $713,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Up 3.2%

Shares of NASDAQ:UFPI opened at $91.01 on Wednesday. UFP Industries has a 52 week low of $77.89 and a 52 week high of $118.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.07 and a current ratio of 4.64. The company has a market capitalization of $5.14 billion, a PE ratio of 19.87 and a beta of 1.22. The company has a 50 day moving average price of $84.97 and a two-hundred day moving average price of $93.21.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.26). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The company's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.30 earnings per share. Analysts forecast that UFP Industries will post 4.57 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.36 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. UFP Industries's payout ratio is currently 31.44%.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.