UFP Industries (NASDAQ:UFPI) Shares Up 4% – Should You Buy?

UFP Industries, Inc. (NASDAQ:UFPI) shares rose 4% during trading on Tuesday . The company traded as high as $134.76 and last traded at $134.76. Approximately 49,334 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 281,499 shares. The stock had previously closed at $129.58.

Analysts Set New Price Targets

A number of research analysts have issued reports on UFPI shares. Benchmark boosted their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $120.00 to $155.00 in a research report on Tuesday. StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. BMO Capital Markets raised their price objective on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus upped their target price on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

UFP Industries Stock Up 3.7 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. The firm has a 50-day moving average price of $122.90 and a two-hundred day moving average price of $118.94. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 16.67 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.36 earnings per share. On average, sell-side analysts forecast that UFP Industries, Inc. will post 7.27 earnings per share for the current year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, August 30th. UFP Industries’s dividend payout ratio is presently 16.42%.

Institutional Trading of UFP Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. TFG Advisers LLC grew its holdings in UFP Industries by 5.2% in the first quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock valued at $230,000 after purchasing an additional 92 shares during the period. Meeder Asset Management Inc. raised its position in shares of UFP Industries by 0.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock worth $1,630,000 after buying an additional 105 shares during the period. Cadence Bank boosted its holdings in UFP Industries by 0.6% in the first quarter. Cadence Bank now owns 19,464 shares of the construction company’s stock valued at $2,394,000 after acquiring an additional 110 shares during the last quarter. SummerHaven Investment Management LLC grew its position in UFP Industries by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company’s stock valued at $866,000 after acquiring an additional 130 shares during the period. Finally, GAMMA Investing LLC increased its stake in UFP Industries by 25.8% during the third quarter. GAMMA Investing LLC now owns 644 shares of the construction company’s stock worth $84,000 after acquiring an additional 132 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other 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.