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

UFP Industries, Inc. (NASDAQ:UFPI)’s stock price reached a new 52-week low on Monday . The company traded as low as $88.47 and last traded at $88.4610, with a volume of 388354 shares changing hands. The stock had previously closed at $90.49.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on UFPI shares. Loop Capital initiated coverage on shares of UFP Industries in a research report on Wednesday, July 23rd. They set a “hold” rating and a $112.00 target price for the company. Stifel Nicolaus set a $95.00 price target on UFP Industries and gave the stock a “hold” rating in a report on Wednesday, October 8th. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. Finally, DA Davidson upgraded shares of UFP Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $112.00 in a research note on Friday, October 31st. Two equities 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.50.

UFP Industries Stock Down 2.3%

The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The business’s 50-day simple moving average is $93.28 and its 200-day simple moving average is $98.08. The company has a market capitalization of $5.15 billion, a PE ratio of 16.34 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). UFP Industries had a return on equity of 10.16% and a net margin of 5.00%.The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, December 1st. UFP Industries’s dividend payout ratio (DPR) is currently 25.88%.

Institutional Trading of UFP Industries

Several hedge funds and other institutional investors have recently bought and sold shares of UFPI. Geneos Wealth Management Inc. raised its position in UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after acquiring an additional 114 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of UFP Industries during the 1st quarter valued at approximately $36,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of UFP Industries by 648.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock valued at $41,000 after purchasing an additional 376 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of UFP Industries by 39.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock valued at $45,000 after purchasing an additional 119 shares during the period. Finally, Winnow Wealth LLC acquired a new stake in UFP Industries during the third quarter valued at $51,000. 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.