UFP Industries (NASDAQ:UFPI) Reaches New 52-Week Low – Here’s Why

UFP Industries, Inc. (NASDAQ:UFPI) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $105.57 and last traded at $106.65, with a volume of 55281 shares trading hands. The stock had previously closed at $108.55.

Analyst Ratings Changes

UFPI has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of UFP Industries in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Trading Down 2.0 %

The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $114.73 and a 200-day moving average price of $123.09. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 15.74 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. Research analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.32%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, March 3rd. UFP Industries’s dividend payout ratio (DPR) is currently 20.68%.

Insider Activity

In related news, Director William G. Currie sold 5,700 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the transaction, the director now directly 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 SEC, which is available through this hyperlink. 2.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in UFP Industries by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock worth $82,847,000 after purchasing an additional 60,859 shares during the period. Citigroup Inc. boosted its stake in UFP Industries by 50.7% in the 3rd quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock valued at $15,670,000 after buying an additional 40,162 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in UFP Industries by 3.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock valued at $102,158,000 after acquiring an additional 31,381 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of UFP Industries by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock valued at $101,011,000 after acquiring an additional 4,006 shares during the period. Finally, Seizert Capital Partners LLC boosted its stake in shares of UFP Industries by 85.5% in the 3rd quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company’s stock valued at $4,543,000 after purchasing an additional 15,958 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.