UFP Industries (NASDAQ:UFPI) Stock Passes Above 200-Day Moving Average of $55.42


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UFP Industries, Inc. (NASDAQ:UFPI)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $55.42 and traded as high as $58.07. UFP Industries shares last traded at $56.54, with a volume of 200,923 shares.

Several research firms recently issued reports on UFPI. ValuEngine lowered shares of UFP Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, October 23rd. BidaskClub lowered shares of UFP Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, January 6th. Zacks Investment Research lowered shares of UFP Industries from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a report on Wednesday, September 23rd. DA Davidson reaffirmed a “buy” rating on shares of UFP Industries in a report on Friday, October 23rd. Finally, Benchmark raised shares of UFP Industries to a “top pick” rating in a report on Monday, October 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. UFP Industries presently has a consensus rating of “Hold” and a consensus price target of $54.17.

The company has a market cap of $3.46 billion, a price-to-earnings ratio of 17.78 and a beta of 1.58. The company’s fifty day moving average price is $55.26 and its two-hundred day moving average price is $55.42. The company has a quick ratio of 1.79, a current ratio of 2.84 and a debt-to-equity ratio of 0.12.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, October 21st. The construction company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.45. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.22 billion. UFP Industries had a net margin of 4.42% and a return on equity of 15.39%. Research analysts forecast that UFP Industries, Inc. will post 3.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Monday, November 30th. UFP Industries’s dividend payout ratio is currently 17.18%.

Several institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of UFP Industries by 35.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 451,125 shares of the construction company’s stock valued at $25,493,000 after purchasing an additional 119,225 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in UFP Industries by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 298,225 shares of the construction company’s stock valued at $16,760,000 after acquiring an additional 41,162 shares during the last quarter. AJO LP boosted its stake in UFP Industries by 152.4% in the third quarter. AJO LP now owns 233,700 shares of the construction company’s stock valued at $13,205,000 after acquiring an additional 141,120 shares during the last quarter. Rothschild & Co. Asset Management US Inc. boosted its stake in UFP Industries by 4.7% in the third quarter. Rothschild & Co. Asset Management US Inc. now owns 204,629 shares of the construction company’s stock valued at $11,564,000 after acquiring an additional 9,156 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in UFP Industries by 2.6% in the third quarter. WCM Investment Management LLC now owns 183,371 shares of the construction company’s stock valued at $10,362,000 after acquiring an additional 4,634 shares during the last quarter. 78.91% of the stock is owned by institutional investors and hedge funds.

About UFP Industries (NASDAQ:UFPI)

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

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