UFP Industries (NASDAQ:UFPI) Reaches New 1-Year Low – Here’s Why

Shares of UFP Industries, Inc. (NASDAQ:UFPI) hit a new 52-week low during trading on Friday . The company traded as low as $79.97 and last traded at $80.01, with a volume of 593112 shares traded. The stock had previously closed at $83.51.

Analyst Ratings Changes

A number of research analysts have recently commented on UFPI shares. Stifel Nicolaus cut their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a report on Monday. DA Davidson cut their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Research lowered UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Finally, BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $105.40.

UFP Industries Stock Down 4.2%

The business has a 50 day moving average of $91.16 and a 200 day moving average of $95.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 17.47 and a beta of 1.29.

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

UFP Industries Announces Dividend

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

Institutional Trading of UFP Industries

A number of large investors have recently bought and sold shares of UFPI. Royal Bank of Canada grew its position in UFP Industries by 3.0% in the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock valued at $6,597,000 after acquiring an additional 1,798 shares during the period. Integrated Wealth Concepts LLC grew its position in UFP Industries by 8.1% in the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after acquiring an additional 221 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in UFP Industries by 10.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock valued at $13,831,000 after acquiring an additional 12,043 shares during the period. EverSource Wealth Advisors LLC grew its position in UFP Industries by 90.9% in the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock valued at $54,000 after acquiring an additional 259 shares during the period. Finally, Walleye Capital LLC bought a new stake in UFP Industries in the second quarter valued at $232,000. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Company Profile

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.