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

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

Other research analysts also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research note on Monday, November 4th. Benchmark restated a “buy” rating and issued a $135.00 price target on shares of UFP Industries in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Stock Down 1.4 %

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

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

Insider Activity

In related news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction that occurred 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 completion of the sale, the director now directly owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. This trade represents a 8.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the sale, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.58% of the company’s stock.

Institutional Trading of UFP Industries

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in UFP Industries by 31.8% in the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after acquiring an additional 76 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in UFP Industries in the 3rd quarter valued at $70,000. Jones Financial Companies Lllp raised its holdings in UFP Industries by 357.8% in the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after acquiring an additional 415 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after acquiring an additional 505 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in UFP Industries in the 4th quarter valued at $61,000. 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.