Analysts Set UFP Industries, Inc. (NASDAQ:UFPI) Price Target at $139.60

UFP Industries, Inc. (NASDAQ:UFPI) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $139.60.

A number of equities research analysts have issued reports on the stock. Benchmark upped their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. BMO Capital Markets boosted their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Wedbush raised UFP Industries from a “neutral” rating to an “outperform” rating and raised their target price for the company from $120.00 to $155.00 in a research report on Tuesday, October 8th. Finally, Stifel Nicolaus lifted 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UFPI. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in UFP Industries by 82.3% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock valued at $29,007,000 after purchasing an additional 114,166 shares during the last quarter. AQR Capital Management LLC raised its position in shares of UFP Industries by 22.7% in the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after purchasing an additional 112,518 shares during the period. Picton Mahoney Asset Management lifted its stake in shares of UFP Industries by 103.3% during the 2nd quarter. Picton Mahoney Asset Management now owns 115,549 shares of the construction company’s stock valued at $12,941,000 after buying an additional 58,724 shares in the last quarter. F M Investments LLC bought a new position in UFP Industries in the 2nd quarter worth approximately $6,028,000. Finally, Cubist Systematic Strategies LLC grew its stake in UFP Industries by 289.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 56,966 shares of the construction company’s stock valued at $6,380,000 after buying an additional 42,341 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Up 1.0 %

UFPI stock opened at $136.85 on Monday. The firm has a market capitalization of $8.45 billion, a PE ratio of 17.02 and a beta of 1.39. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. UFP Industries has a twelve month low of $90.62 and a twelve month high of $139.54. The stock’s 50 day moving average is $124.61 and its 200-day moving average is $119.73.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $2.36 EPS. Sell-side analysts expect that UFP Industries will post 7.29 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a $0.33 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 0.96%. UFP Industries’s payout ratio is presently 16.42%.

About UFP Industries

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.