Investment analysts at StockNews.com began coverage on shares of UFP Industries (NASDAQ:UFPI – Get Free Report) in a note issued to investors on Thursday. The firm set a “buy” rating on the construction company’s stock.
Separately, Benchmark reaffirmed a “buy” rating and set a $120.00 price target on shares of UFP Industries in a research report on Monday, August 21st.
Get Our Latest Stock Analysis on UFP Industries
UFP Industries Stock Performance
UFP Industries (NASDAQ:UFPI – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.04). UFP Industries had a return on equity of 21.75% and a net margin of 7.12%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the firm earned $3.23 earnings per share. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. As a group, sell-side analysts expect that UFP Industries will post 8.26 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Kuras Mary Tuuk sold 9,000 shares of UFP Industries stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $100.70, for a total transaction of $906,300.00. Following the transaction, the director now owns 9,521 shares in the company, valued at $958,764.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.55% of the stock is currently owned by corporate insiders.
Institutional Trading of UFP Industries
A number of large investors have recently bought and sold shares of UFPI. Global Retirement Partners LLC lifted its stake in UFP Industries by 683.3% in the first quarter. Global Retirement Partners LLC now owns 329 shares of the construction company’s stock valued at $27,000 after buying an additional 287 shares during the period. City State Bank bought a new position in shares of UFP Industries in the second quarter valued at $34,000. Stonebridge Capital Advisors LLC bought a new stake in shares of UFP Industries during the second quarter worth about $44,000. Dupont Capital Management Corp acquired a new stake in shares of UFP Industries in the 2nd quarter worth about $53,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of UFP Industries in the fourth quarter worth approximately $59,000. 79.45% of the stock is currently 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.
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