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

UFP Industries, Inc. (NASDAQ:UFPI) hit a new 52-week low on Wednesday. The company traded as low as $77.89 and last traded at $78.0050, with a volume of 58282 shares. The stock had previously closed at $78.77.

Analyst Upgrades and Downgrades

UFPI has been the topic of several recent research reports. Oppenheimer started coverage on UFP Industries in a research note on Wednesday. They issued a “market perform” rating on the stock. Weiss Ratings raised UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Stifel Nicolaus set a $90.00 price objective on UFP Industries and gave the stock a “hold” rating in a report on Monday, August 24th. Finally, Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, UFP Industries currently has a consensus rating of “Hold” and a consensus target price of $104.50.

UFP Industries Stock Down 0.9%

The firm’s 50 day simple moving average is $85.84 and its 200-day simple moving average is $86.86. The company has a current ratio of 3.98, a quick ratio of 2.64 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 17.91 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.11. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%.The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Equities analysts expect that UFP Industries, Inc. will post 4.51 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.36 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. UFP Industries’s dividend payout ratio (DPR) is currently 33.03%.

Institutional Investors Weigh In On UFP Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. IAG Wealth Partners LLC bought a new position in UFP Industries during the first quarter worth about $28,000. Root Financial Partners LLC increased its holdings in shares of UFP Industries by 86.0% in the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock valued at $29,000 after purchasing an additional 148 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of UFP Industries by 84.8% in the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after purchasing an additional 190 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of UFP Industries in the first quarter valued at about $40,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of UFP Industries in the second quarter valued at about $60,000. 81.81% of the stock is owned by institutional investors.

About UFP Industries

UFP Industries, Inc is a manufacturer and distributor of wood, composite and other products serving the construction, industrial and retail sectors. The company operates through businesses focused on supplying materials and finished products for residential and commercial construction, outdoor living, manufactured housing, packaging and industrial applications.

Its product offerings include pressure-treated lumber, engineered wood components, decking, fencing, lawn and garden products, trusses, wood pallets, crates and other custom packaging solutions.