UFP Industries (NASDAQ:UFPI) Receives Neutral Rating from Wedbush

Wedbush restated their neutral rating on shares of UFP Industries (NASDAQ:UFPI) in a research note issued to investors on Tuesday morning, RTT News reports. They currently have a $120.00 target price on the construction company’s stock, up from their previous target price of $102.00. Wedbush also issued estimates for UFP Industries’ Q3 2024 earnings at $1.89 EPS, Q4 2024 earnings at $1.42 EPS, FY2024 earnings at $7.32 EPS, Q1 2025 earnings at $1.80 EPS, Q2 2025 earnings at $2.24 EPS, Q3 2025 earnings at $1.99 EPS, Q4 2025 earnings at $1.48 EPS, FY2025 earnings at $7.50 EPS, Q1 2026 earnings at $1.92 EPS, Q2 2026 earnings at $2.36 EPS and FY2026 earnings at $7.91 EPS.

A number of other equities research analysts have also recently commented on UFPI. StockNews.com cut shares of UFP Industries from a strong-buy rating to a buy rating in a report on Friday, July 5th. Benchmark reduced their price target on shares of UFP Industries from $137.00 to $133.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, UFP Industries has an average rating of Moderate Buy and a consensus target price of $132.60.

UFP Industries Trading Down 3.3 %

NASDAQ:UFPI opened at $121.98 on Tuesday. The company has a current ratio of 4.34, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $7.53 billion, a PE ratio of 15.17 and a beta of 1.40. The firm’s 50 day moving average is $117.16 and its 200 day moving average is $116.61. UFP Industries has a 12 month low of $90.62 and a 12 month high of $136.93.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The company had revenue of $1.90 billion for 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%. UFP Industries’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.36 EPS. Sell-side analysts expect that UFP Industries will post 7.39 earnings per share for the current year.

UFP Industries Dividend Announcement

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

Insider Activity

In related news, CFO Michael R. Cole sold 1,452 shares of the 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 transaction, the chief financial officer now directly owns 165,155 shares of the company’s stock, valued at $19,699,688.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other UFP Industries news, CFO Michael R. Cole sold 1,452 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $119.28, for a total transaction of $173,194.56. Following the completion of the transaction, 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 through the SEC website. Also, Director Bruce A. Merino sold 16,472 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the sale, the director now owns 7,107 shares in the company, valued at approximately $837,773.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,687 shares of company stock valued at $3,831,653. Insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UFPI. Norges Bank bought a new stake in shares of UFP Industries during the 4th quarter valued at $86,885,000. Wells Fargo & Company MN boosted its stake in shares of UFP Industries by 871.3% during the 4th quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock worth $51,741,000 after purchasing an additional 369,687 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of UFP Industries during the 1st quarter worth about $18,245,000. Henrickson Nauta Wealth Advisors Inc. boosted its position in UFP Industries by 82.3% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock valued at $29,007,000 after buying an additional 114,166 shares during the period. Finally, Picton Mahoney Asset Management boosted its position in UFP Industries by 103.3% in 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 during the period. 81.81% of the stock is currently owned by 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.