UFP Industries (NASDAQ:UFPI) Sets New 1-Year Low – Here’s Why

UFP Industries, Inc. (NASDAQ:UFPI)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $78.12 and last traded at $79.99, with a volume of 517473 shares trading hands. The stock had previously closed at $79.17.

Analysts Set New Price Targets

A number of analysts have commented on UFPI shares. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. DA Davidson cut their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, May 1st. Benchmark cut their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Finally, BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective on the stock in a research report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, UFP Industries currently has an average rating of “Hold” and a consensus price target of $105.40.

UFP Industries Stock Performance

The stock has a market cap of $4.52 billion, a P/E ratio of 17.47 and a beta of 1.29. The business has a 50 day moving average price of $89.91 and a 200 day moving average price of $95.53. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.26). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $1.30 EPS. As a group, sell-side analysts expect that UFP Industries, Inc. will post 4.77 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. UFP Industries’s dividend payout ratio is currently 31.44%.

Hedge Funds Weigh In On UFP Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of UFP Industries during the 4th quarter valued at about $75,183,000. Wasatch Advisors LP grew its position in shares of 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. River Road Asset Management LLC boosted its holdings in UFP Industries by 64.1% in the 4th quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock worth $80,118,000 after buying an additional 343,830 shares during the last quarter. Millennium Management LLC boosted its holdings in UFP Industries by 209.9% in the 3rd quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after buying an additional 288,093 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in UFP Industries by 2,178.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock worth $19,423,000 after buying an additional 203,957 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

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.