UFP Industries (NASDAQ:UFPI) Trading Down 6.6% – What’s Next?

Shares of UFP Industries, Inc. (NASDAQ:UFPI) were down 6.6% during mid-day trading on Wednesday . The stock traded as low as $102.40 and last traded at $101.6050. Approximately 140,510 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 366,630 shares. The stock had previously closed at $108.76.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Stifel Nicolaus set a $98.00 price target on shares of UFP Industries in a research report on Tuesday, December 2nd. Finally, DA Davidson restated a “buy” rating and set a $112.00 price objective on shares of UFP Industries in a report on Tuesday. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, UFP Industries presently has an average rating of “Hold” and an average price target of $107.33.

UFP Industries Price Performance

The stock has a market cap of $5.82 billion, a P/E ratio of 20.62 and a beta of 1.49. The company has a quick ratio of 3.23, a current ratio of 4.59 and a debt-to-equity ratio of 0.07. The business’s 50-day simple moving average is $103.81 and its two-hundred day simple moving average is $97.85.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, February 23rd. The construction company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33). The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. Sell-side analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from UFP Industries’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.4%. UFP Industries’s dividend payout ratio is 28.06%.

Insider Buying and Selling at UFP Industries

In related news, Chairman Matthew J. Missad sold 11,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the sale, the chairman directly owned 310,533 shares in the company, valued at approximately $28,649,774.58. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its position in shares of UFP Industries by 3.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company’s stock worth $291,000 after purchasing an additional 92 shares during the last quarter. Arkadios Wealth Advisors grew its stake in UFP Industries by 2.1% in the 4th quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company’s stock worth $423,000 after buying an additional 97 shares in the last quarter. F m Investments LLC increased its holdings in shares of UFP Industries by 0.5% in the 2nd quarter. F m Investments LLC now owns 22,459 shares of the construction company’s stock worth $2,232,000 after buying an additional 112 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of UFP Industries by 54.8% during the 2nd 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 in the last quarter. Finally, SkyView Investment Advisors LLC lifted its holdings in shares of UFP Industries by 1.3% during the 4th quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company’s stock worth $832,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

About UFP Industries

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.