UFP Industries (NASDAQ:UFPI) Sets New 12-Month Low - Here's What Happened

Shares of UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $94.60 and last traded at $95.49, with a volume of 11098 shares changing hands. The stock had previously closed at $94.93.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen downgraded UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Benchmark reaffirmed a "buy" rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, UFP Industries presently has an average rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Stock Up 0.9%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.44 and a current ratio of 4.96. The stock has a 50-day moving average of $100.72 and a two-hundred day moving average of $109.20. The company has a market cap of $5.79 billion, a P/E ratio of 15.68 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.61 billion. UFP Industries had a net margin of 5.64% and a return on equity of 11.78%. UFP Industries's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the company posted $1.96 EPS. On average, research analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.35 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 1.46%. UFP Industries's dividend payout ratio is currently 22.91%.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds have recently modified their holdings of UFPI. CIBC Asset Management Inc boosted its holdings in UFP Industries by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company's stock valued at $213,000 after acquiring an additional 97 shares in the last quarter. State of Wyoming lifted its position in shares of UFP Industries by 8.4% in the 1st quarter. State of Wyoming now owns 1,294 shares of the construction company's stock worth $139,000 after purchasing an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of UFP Industries by 2.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company's stock valued at $494,000 after purchasing an additional 104 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of UFP Industries by 6.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company's stock valued at $202,000 after buying an additional 105 shares during the period. Finally, Great Lakes Advisors LLC raised its stake in UFP Industries by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 21,105 shares of the construction company's stock worth $2,259,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company's stock.

About UFP Industries

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.

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