UFP Industries (NASDAQ:UFPI) Sets New 12-Month Low – Here’s Why

Shares of UFP Industries, Inc. (NASDAQ:UFPI) hit a new 52-week low on Thursday . The stock traded as low as $99.42 and last traded at $108.32, with a volume of 625742 shares trading hands. The stock had previously closed at $100.97.

Wall Street Analysts Forecast Growth

UFPI has been the topic of a number of recent research reports. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark reissued a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The stock has a market capitalization of $6.47 billion, a PE ratio of 15.72 and a beta of 1.45. The company has a 50-day moving average of $108.87 and a two-hundred day moving average of $119.46.

UFP Industries (NASDAQ:UFPI) last released 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). The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. Sell-side analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company 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. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, March 3rd. UFP Industries’s dividend payout ratio (DPR) is 20.68%.

Institutional Investors Weigh In On UFP Industries

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of UFP Industries by 10.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock valued at $82,847,000 after purchasing an additional 60,859 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock valued at $102,158,000 after buying an additional 31,381 shares in the last quarter. CIBC Asset Management Inc grew its stake 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 buying an additional 97 shares during the period. Argent Capital Management LLC increased its position in shares of UFP Industries by 35.8% in the fourth quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company’s stock worth $1,386,000 after acquiring an additional 3,241 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after acquiring an additional 188,969 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

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.