UFP Industries (NASDAQ:UFPI) Share Price Crosses Below Fifty Day Moving Average - Should You Sell?

Key Points

• UFP Industries shares fell below their 50-day moving average, trading at $79.10 versus a $79.99 average; the 200-day average was $88.59.
• Analyst views are mixed, with a consensus Hold rating and $103.25 average price target. Recent ratings ranged from strong sell to buy.
• The company missed quarterly EPS expectations ($1.05 versus $1.20) but exceeded revenue estimates ($1.73 billion versus $1.60 billion), and announced a $0.36 quarterly dividend.

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) shares passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $79.99 and traded as low as $78.89. UFP Industries shares last traded at $79.10, with a volume of 292,047 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Zacks Research downgraded shares of UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, November 3rd. DA Davidson reaffirmed a "buy" rating and set a $105.00 target price on shares of UFP Industries in a research note on Tuesday, October 27th. Weiss Ratings downgraded shares of UFP Industries from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, October 12th. Oppenheimer started coverage on UFP Industries in a research note on Wednesday, September 30th. They issued a "market perform" rating for the company. Finally, Stifel Nicolaus set a $85.00 price target on UFP Industries and gave the company a "hold" rating in a research note on Monday, October 26th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $103.25.

UFP Industries Price Performance

The business has a 50-day simple moving average of $79.99 and a 200 day simple moving average of $88.59. The stock has a market cap of $4.32 billion, a P/E ratio of 19.20 and a beta of 1.14. The company has a current ratio of 3.86, a quick ratio of 2.58 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The construction company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.15). UFP Industries had a net margin of 3.61% and a return on equity of 7.53%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.60 billion. On average, analysts forecast that UFP Industries, Inc. will post 4.18 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.36 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $1.44 annualized dividend and a yield of 1.8%. UFP Industries's dividend payout ratio is presently 34.95%.

Institutional Trading of UFP Industries

Large investors have recently bought and sold shares of the business. Bank of America Corp DE acquired a new position in shares of UFP Industries in the 2nd quarter valued at about $25,529,000. Royal Bank of Canada grew its stake in UFP Industries by 50.2% during the first quarter. Royal Bank of Canada now owns 52,008 shares of the construction company's stock worth $4,792,000 after purchasing an additional 17,376 shares during the period. Quantinno Capital Management LP grew its stake in UFP Industries by 207.1% during the first quarter. Quantinno Capital Management LP now owns 34,990 shares of the construction company's stock worth $3,223,000 after purchasing an additional 23,595 shares during the period. Callan Family Office LLC acquired a new stake in UFP Industries during the second quarter worth approximately $3,635,000. Finally, Freestone Grove Partners LP acquired a new stake in UFP Industries during the second quarter worth approximately $2,443,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

About UFP Industries

UFP Industries, Inc. is a manufacturer and distributor of wood and other materials used in construction, packaging and retail products. Founded in 1955 as Universal Forest Products, the company adopted its current name in 2020. Its businesses supply products such as lumber, decking and other outdoor-living materials; pallets, crates and custom industrial packaging; and components for residential and commercial construction. UFP also serves customers in manufactured housing and other building-related markets.

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