UFP Industries (NASDAQ:UFPI) Reaches New 52-Week Low - What's Next?

Key Points

• UFP Industries shares hit a new 52-week low of $77.89 and were last trading near $78.01, below the 50-day and 200-day moving averages.
• Analyst sentiment remains neutral, with a consensus “Hold” rating and an average price target of $104.50; recent firms mostly maintained or upgraded the stock to hold/market perform.
• The company exceeded quarterly expectations with $1.48 in EPS and $1.88 billion in revenue, while paying a quarterly dividend of $0.36 per share, equivalent to a 1.8% yield.

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report)'s share price hit a new 52-week low on Wednesday. The company traded as low as $77.89 and last traded at $78.0050, with a volume of 58282 shares changing hands. The stock had previously closed at $78.77.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UFPI. Weiss Ratings raised UFP Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Stifel Nicolaus set a $90.00 target price on UFP Industries and gave the stock a "hold" rating in a research report on Monday, August 24th. Oppenheimer started coverage on UFP Industries in a research note on Wednesday. They set a "market perform" rating on the stock. Finally, Zacks Research upgraded UFP Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $104.50.

UFP Industries Trading Down 0.9%

The business has a 50 day moving average of $85.84 and a 200 day moving average of $86.86. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 17.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.11. The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.79 billion. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. As a group, research analysts predict that UFP Industries, Inc. will post 4.51 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 1.8%. UFP Industries's dividend payout ratio (DPR) is presently 33.03%.

Institutional Investors Weigh In On UFP Industries

Several large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its stake in UFP Industries by 141.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,076 shares of the construction company's stock worth $551,000 after buying an additional 3,555 shares during the period. NewEdge Advisors LLC raised its position in shares of UFP Industries by 24.5% during the second quarter. NewEdge Advisors LLC now owns 6,204 shares of the construction company's stock worth $563,000 after purchasing an additional 1,220 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of UFP Industries by 182.1% during the 2nd quarter. Squarepoint Ops LLC now owns 82,360 shares of the construction company's stock valued at $7,473,000 after purchasing an additional 53,166 shares in the last quarter. Nykredit A S bought a new position in shares of UFP Industries during the 2nd quarter valued at about $220,000. Finally, Corient Private Wealth LP increased its stake in UFP Industries by 22.9% during the 2nd quarter. Corient Private Wealth LP now owns 7,181 shares of the construction company's stock worth $652,000 after purchasing an additional 1,336 shares in the last quarter. Institutional investors own 81.81% of the company's stock.

UFP Industries Company Profile

UFP Industries, Inc is a manufacturer and distributor of wood, composite and other products serving the construction, industrial and retail sectors. The company operates through businesses focused on supplying materials and finished products for residential and commercial construction, outdoor living, manufactured housing, packaging and industrial applications.

Its product offerings include pressure-treated lumber, engineered wood components, decking, fencing, lawn and garden products, trusses, wood pallets, crates and other custom packaging solutions.

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