UFP Industries (NASDAQ:UFPI) Reaches New 1-Year High – Here’s Why

UFP Industries, Inc. (NASDAQ:UFPI)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $141.01 and last traded at $140.94, with a volume of 47247 shares traded. The stock had previously closed at $133.07.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a research note on Monday, November 4th. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Monday. BMO Capital Markets boosted their price target on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Benchmark raised their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their target price on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.00.

UFP Industries Stock Performance

The business’s fifty day moving average price is $131.39 and its 200-day moving average price is $122.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The stock has a market capitalization of $8.21 billion, a PE ratio of 18.63 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.25). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.10 earnings per share. As a group, equities research analysts expect that UFP Industries, Inc. will post 6.89 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 0.98%. UFP Industries’s payout ratio is currently 18.16%.

Insider Activity

In related news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.58% of the company’s stock.

Institutional Trading of UFP Industries

A number of hedge funds have recently bought and sold shares of UFPI. Franklin Resources Inc. lifted its holdings in shares of UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock worth $169,675,000 after acquiring an additional 188,969 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in UFP Industries by 6.6% in the third quarter. Sanctuary Advisors LLC now owns 10,897 shares of the construction company’s stock worth $1,450,000 after purchasing an additional 674 shares during the last quarter. Geode Capital Management LLC boosted its position in UFP Industries by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock valued at $200,553,000 after buying an additional 14,857 shares during the period. Vestcor Inc boosted its position in UFP Industries by 2.4% during the third quarter. Vestcor Inc now owns 11,096 shares of the construction company’s stock valued at $1,456,000 after buying an additional 261 shares during the period. Finally, M&T Bank Corp increased its holdings in shares of UFP Industries by 17.3% in the third quarter. M&T Bank Corp now owns 3,029 shares of the construction company’s stock worth $397,000 after buying an additional 446 shares during the period. 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.