UFP Industries (NASDAQ:UFPI) Reaches New 1-Year Low on Analyst Downgrade

UFP Industries, Inc. (NASDAQ:UFPI)’s stock price reached a new 52-week low during trading on Monday after DA Davidson lowered their price target on the stock from $110.00 to $105.00. DA Davidson currently has a buy rating on the stock. UFP Industries traded as low as $83.58 and last traded at $83.90, with a volume of 16643 shares traded. The stock had previously closed at $85.18.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets reiterated a “market perform” rating and issued a $108.00 price target (down from $112.00) on shares of UFP Industries in a research note on Monday, April 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Finally, Benchmark cut their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, UFP Industries currently has an average rating of “Hold” and a consensus target price of $107.60.

Institutional Trading of UFP Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC raised its position in shares of UFP Industries by 822.7% during the 3rd quarter. AlphaQuest LLC now owns 8,480 shares of the construction company’s stock worth $793,000 after purchasing an additional 7,561 shares during the period. New York State Common Retirement Fund raised its position in shares of UFP Industries by 117.5% during the 3rd quarter. New York State Common Retirement Fund now owns 86,589 shares of the construction company’s stock worth $8,095,000 after purchasing an additional 46,775 shares during the period. Numerai GP LLC acquired a new stake in shares of UFP Industries during the 3rd quarter worth approximately $3,562,000. Allspring Global Investments Holdings LLC increased its position 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 valued at $114,980,000 after acquiring an additional 23,905 shares during the period. Finally, State of Wyoming increased its position in UFP Industries by 337.9% in the 3rd quarter. State of Wyoming now owns 10,434 shares of the construction company’s stock valued at $975,000 after acquiring an additional 8,051 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Trading Down 1.5%

The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 18.32 and a beta of 1.29. The firm has a 50-day moving average of $94.61 and a 200 day moving average of $96.33.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The firm’s revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that UFP Industries, Inc. will post 5.11 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, June 1st. UFP Industries’s dividend payout ratio (DPR) is presently 31.44%.

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.