UFP Industries (NASDAQ:UFPI) Hits New 1-Year Low - Here's What Happened

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $99.42 and last traded at $108.32, with a volume of 625742 shares traded. The stock had previously closed at $100.97.

Analysts Set New Price Targets

Several research firms have issued reports on UFPI. StockNews.com lowered UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark restated a "buy" rating and issued a $135.00 price target on shares of UFP Industries in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, UFP Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Stock Performance

The company's fifty day simple moving average is $108.67 and its two-hundred day simple moving average is $119.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The stock has a market capitalization of $6.49 billion, a P/E ratio of 15.76 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its earnings results on Monday, February 17th. The construction company reported $1.20 EPS 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%. As a group, equities analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

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UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.35 per share. This is a boost from UFP Industries's previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.31%. UFP Industries's dividend payout ratio (DPR) is presently 20.68%.

Institutional Investors Weigh In On UFP Industries

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in UFP Industries by 10.7% in the 3rd 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. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 during the period. CIBC Asset Management Inc raised its position in shares of 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 buying an additional 97 shares in the last quarter. Argent Capital Management LLC boosted its stake in shares of UFP Industries by 35.8% in the fourth quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company's stock valued at $1,386,000 after buying an additional 3,241 shares during the period. Finally, Franklin Resources Inc. grew its position in UFP Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company's stock worth $169,675,000 after buying an additional 188,969 shares in the last quarter. Institutional investors own 81.81% of the company's stock.

UFP Industries Company Profile

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.