UFP Industries (NASDAQ:UFPI) Stock Rating Lowered by StockNews.com

UFP Industries (NASDAQ:UFPI) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other research analysts have also commented on the company. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of UFP Industries in a report on Wednesday. Wedbush reiterated an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, UFP Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

UFP Industries Stock Down 1.4 %

Shares of NASDAQ UFPI traded down $1.56 during trading hours on Wednesday, hitting $112.89. The stock had a trading volume of 373,881 shares, compared to its average volume of 287,968. The company has a market capitalization of $6.85 billion, a P/E ratio of 15.53 and a beta of 1.45. The firm’s 50-day moving average price is $115.46 and its two-hundred day moving average price is $123.18. UFP Industries has a 52 week low of $107.25 and a 52 week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. Analysts anticipate that UFP Industries will post 6.88 EPS for the current fiscal year.

Insider Activity

In other news, Director William G. Currie sold 5,700 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the sale, the director now owns 61,140 shares in the company, valued at approximately $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Missad sold 15,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the transaction, the chief executive officer now directly owns 314,450 shares in the company, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UFP Industries

Several hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in shares of UFP Industries by 2.8% during the third quarter. Creative Planning now owns 24,252 shares of the construction company’s stock worth $3,182,000 after buying an additional 668 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of UFP Industries by 27.4% during the third quarter. Blue Trust Inc. now owns 1,108 shares of the construction company’s stock worth $145,000 after buying an additional 238 shares in the last quarter. Raymond James & Associates grew its holdings in shares of UFP Industries by 6.5% during the third quarter. Raymond James & Associates now owns 222,660 shares of the construction company’s stock worth $29,215,000 after buying an additional 13,575 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of UFP Industries during the third quarter worth about $70,000. Finally, Signaturefd LLC grew its holdings in shares of UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after buying an additional 76 shares in the last quarter. 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.