Wedbush Reaffirms Outperform Rating for UFP Industries (NASDAQ:UFPI)

Wedbush reissued their outperform rating on shares of UFP Industries (NASDAQ:UFPI - Free Report) in a report published on Monday morning, RTT News reports. They currently have a $155.00 price objective on the construction company's stock.

Other research analysts have also recently issued research reports about the stock. Benchmark raised their price target on shares of UFP Industries from $133.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their target price on UFP Industries from $125.00 to $157.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets boosted their price target 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $148.00.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI traded up $0.73 during trading on Monday, hitting $123.81. 207,300 shares of the company traded hands, compared to its average volume of 280,659. The company has a quick ratio of 3.18, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The business's fifty day moving average is $126.88 and its 200-day moving average is $120.72. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 17.21 and a beta of 1.39. UFP Industries has a one year low of $100.25 and a one year high of $139.54.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.25). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 earnings per share. As a group, equities analysts predict that UFP Industries will post 7.18 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.07%. UFP Industries's dividend payout ratio (DPR) is 18.16%.

Institutional Trading of UFP Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC increased its stake in UFP Industries by 0.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company's stock worth $361,155,000 after purchasing an additional 28,601 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of UFP Industries by 3.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company's stock worth $116,467,000 after acquiring an additional 32,555 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of UFP Industries by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company's stock worth $90,857,000 after acquiring an additional 5,784 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of UFP Industries by 22.7% in the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company's stock valued at $67,594,000 after acquiring an additional 112,518 shares in the last quarter. Finally, Copeland Capital Management LLC lifted its position in shares of UFP Industries by 1.0% in the 3rd quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company's stock valued at $71,667,000 after acquiring an additional 5,515 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

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.