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

Shares of UFP Industries, Inc. (NASDAQ:UFPI) hit a new 52-week low during trading on Friday . The stock 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.

Analysts Set New Price Targets

Several analysts have recently commented on UFPI shares. BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a report on Tuesday, May 5th. DA Davidson decreased their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Stifel Nicolaus cut their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Zacks Research lowered UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Three equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $105.40.

UFP Industries Stock Down 4.2%

The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 17.47 and a beta of 1.29. The firm has a 50 day moving average price of $91.16 and a 200-day moving average price of $95.85.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results 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). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company earned $1.30 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that UFP Industries, Inc. will post 4.77 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.44 annualized dividend and a yield of 1.8%. UFP Industries’s dividend payout ratio is presently 31.44%.

Hedge Funds Weigh In On UFP Industries

Several hedge funds have recently added to or reduced their stakes in UFPI. IAG Wealth Partners LLC acquired a new position in UFP Industries in the first quarter valued at about $28,000. Root Financial Partners LLC lifted its stake in UFP Industries by 86.0% in the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock valued at $29,000 after buying an additional 148 shares during the period. Geneos Wealth Management Inc. lifted its stake in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after buying an additional 114 shares during the period. Signaturefd LLC lifted its stake in UFP Industries by 66.1% in the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock valued at $35,000 after buying an additional 154 shares during the period. Finally, Danske Bank A S raised its position in shares of UFP Industries by 300.0% during the fourth quarter. Danske Bank A S now owns 400 shares of the construction company’s stock worth $36,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds 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.