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

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

Analyst Upgrades and Downgrades

UFPI has been the subject of a number of recent research reports. DA Davidson cut their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Stifel Nicolaus cut their price objective on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th. BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research report on Tuesday, May 5th. Benchmark cut their price objective on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $105.40.

UFP Industries Stock Down 4.2%

The business has a 50-day moving average of $90.79 and a 200-day moving average of $95.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.07 and a current ratio of 4.64. The stock 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 quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 earnings per share. On average, sell-side analysts expect that UFP Industries, Inc. will post 4.77 EPS for the current year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.36 per share. 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 (DPR) is 31.44%.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in UFP Industries by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,117,218 shares of the construction company’s stock valued at $556,973,000 after acquiring an additional 17,016 shares during the period. Wasatch Advisors LP boosted its holdings in UFP Industries by 32.9% during the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock valued at $187,732,000 after acquiring an additional 504,609 shares during the period. Dimensional Fund Advisors LP boosted its holdings in UFP Industries by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,909,315 shares of the construction company’s stock valued at $173,847,000 after acquiring an additional 44,736 shares during the period. Boston Partners boosted its holdings in UFP Industries by 2.2% during the 3rd quarter. Boston Partners now owns 1,887,460 shares of the construction company’s stock valued at $176,449,000 after acquiring an additional 39,957 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in UFP Industries by 2.0% during 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. 81.81% of the stock is currently owned by hedge funds and other 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.