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

UFP Industries, Inc. (NASDAQ:UFPI) shares reached a new 52-week low during trading on Friday . The company traded as low as $101.02 and last traded at $101.55, with a volume of 536 shares traded. The stock had previously closed at $104.34.

Analysts Set New Price Targets

UFPI has been the subject of several recent research reports. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and issued 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 assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

UFP Industries Trading Down 0.9 %

The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 15.29 and a beta of 1.45. The business’s fifty day moving average is $110.71 and its 200 day moving average is $120.79. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07.

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

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s payout ratio is currently 20.68%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its position in UFP Industries by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock worth $213,000 after purchasing an additional 97 shares during the period. Robertson Stephens Wealth Management LLC increased its position in UFP Industries by 5.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company’s stock worth $216,000 after acquiring an additional 104 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in UFP Industries by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company’s stock worth $494,000 after purchasing an additional 104 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in UFP Industries by 6.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 105 shares during the period. Finally, Highland Capital Management LLC grew its position in shares of UFP Industries by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 2,222 shares of the construction company’s stock worth $250,000 after purchasing an additional 138 shares in the last quarter. 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.