Benchmark Increases UFP Industries (NASDAQ:UFPI) Price Target to $155.00

UFP Industries (NASDAQ:UFPI) had its target price upped by Benchmark from $133.00 to $155.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus boosted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a buy rating in a report on Wednesday. StockNews.com lowered shares of UFP Industries from a strong-buy rating to a buy rating in a report on Friday, July 5th. BMO Capital Markets upped their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a market perform rating in a report on Wednesday. Finally, Wedbush reaffirmed a neutral rating and set a $120.00 target price (up previously from $102.00) on shares of UFP Industries in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $132.60.

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $121.98 on Wednesday. The firm has a market cap of $7.53 billion, a PE ratio of 15.17 and a beta of 1.40. The firm has a fifty day moving average of $117.16 and a 200 day moving average of $116.62. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 4.34. UFP Industries has a one year low of $90.62 and a one year high of $136.93.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The firm’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.36 EPS. As a group, research analysts predict that UFP Industries will post 7.3 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, August 30th. UFP Industries’s dividend payout ratio is currently 16.42%.

Insider Activity at UFP Industries

In related news, CFO Michael R. Cole sold 1,452 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the completion of the sale, the chief financial officer now owns 165,155 shares of the company’s stock, valued at $19,699,688.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Michael R. Cole sold 1,452 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the completion of the sale, the chief financial officer now owns 165,155 shares of the company’s stock, valued at $19,699,688.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick M. Benton sold 11,725 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the sale, the insider now directly owns 97,729 shares of the company’s stock, valued at approximately $11,265,221.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,687 shares of company stock valued at $3,831,653. 2.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in UFP Industries in the fourth quarter valued at about $30,000. Rise Advisors LLC acquired a new position in UFP Industries in the first quarter valued at about $33,000. Opal Wealth Advisors LLC acquired a new position in UFP Industries in the first quarter valued at about $33,000. SRS Capital Advisors Inc. lifted its position in UFP Industries by 218.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock valued at $36,000 after buying an additional 197 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in UFP Industries in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.