UFP Industries (NASDAQ:UFPI) Reaches New 12-Month Low – Here’s What Happened

UFP Industries, Inc. (NASDAQ:UFPI) reached a new 52-week low during trading on Thursday . The stock traded as low as $78.12 and last traded at $79.99, with a volume of 517473 shares changing hands. The stock had previously closed at $79.17.

Analysts Set New Price Targets

Several brokerages have issued reports on UFPI. Benchmark cut their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. DA Davidson decreased their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Stifel Nicolaus decreased their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, UFP Industries currently has an average rating of “Hold” and an average target price of $105.40.

UFP Industries Stock Performance

The stock has a market cap of $4.52 billion, a P/E ratio of 17.47 and a beta of 1.29. The company has a fifty day moving average price of $89.91 and a 200 day moving average price of $95.53. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the company posted $1.30 EPS. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts expect that UFP Industries, Inc. will post 4.77 EPS for the current year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. UFP Industries’s dividend payout ratio is currently 31.44%.

Institutional Trading of UFP Industries

A number of institutional investors have recently added to or reduced their stakes in UFPI. Vanguard Group Inc. increased its position in shares of UFP Industries by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,117,218 shares of the construction company’s stock valued at $556,973,000 after purchasing an additional 17,016 shares during the last quarter. Wasatch Advisors LP lifted its holdings in UFP Industries by 32.9% in the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock worth $187,732,000 after buying an additional 504,609 shares during the period. Dimensional Fund Advisors LP lifted its holdings in UFP Industries by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,909,315 shares of the construction company’s stock worth $173,847,000 after buying an additional 44,736 shares during the period. Boston Partners lifted its holdings in UFP Industries by 2.2% in the 3rd quarter. Boston Partners now owns 1,887,460 shares of the construction company’s stock worth $176,449,000 after buying an additional 39,957 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in UFP Industries by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,247,346 shares of the construction company’s stock worth $114,980,000 after buying an additional 23,905 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.