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

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $105.57 and last traded at $106.65, with a volume of 55281 shares traded. The stock had previously closed at $108.55.

Analyst Upgrades and Downgrades

UFPI has been the topic of several research reports. Wedbush reissued an "outperform" rating and set a $155.00 price target on shares of UFP Industries in a research report on Monday, November 4th. Benchmark reissued a "buy" rating and set a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. Finally, StockNews.com cut shares of UFP Industries from a "buy" rating to a "hold" rating 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's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.00.

UFP Industries Trading Down 2.0 %

The company's fifty day moving average is $113.85 and its two-hundred day moving average is $122.75. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 15.75 and a beta of 1.45. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07.

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UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. On average, research analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.35 dividend. This is a boost from UFP Industries's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.31%. UFP Industries's dividend payout ratio (DPR) is 20.68%.

Insider Activity at UFP Industries

In other UFP Industries news, Director William G. Currie sold 5,700 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the sale, the director now owns 61,140 shares of the company's stock, valued at approximately $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is owned by corporate insiders.

Institutional Trading of UFP Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in UFP Industries by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company's stock worth $82,847,000 after purchasing an additional 60,859 shares in the last quarter. Citigroup Inc. raised its holdings in UFP Industries by 50.7% during the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company's stock worth $15,670,000 after purchasing an additional 40,162 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock worth $102,158,000 after purchasing an additional 31,381 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in UFP Industries by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company's stock worth $101,011,000 after purchasing an additional 4,006 shares in the last quarter. Finally, Seizert Capital Partners LLC raised its holdings in UFP Industries by 85.5% during the third quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company's stock worth $4,543,000 after purchasing an additional 15,958 shares in the last quarter. Institutional investors and hedge funds 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.