UFP Industries (NASDAQ:UFPI) Reaches New 12-Month High – Here’s What Happened

UFP Industries, Inc. (NASDAQ:UFPI)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock 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 Analyst Weigh In

UFPI has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. Benchmark raised their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus raised their target price on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Trading Up 4.5 %

The business has a 50 day moving average of $130.85 and a 200 day moving average of $122.49. 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 firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 18.89 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 company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. UFP Industries’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.10 earnings per share. As a group, research analysts predict that UFP Industries, Inc. will post 6.89 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s payout ratio is presently 18.16%.

Insider Transactions at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 314,450 shares in the company, valued at $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On UFP Industries

Several institutional investors have recently modified their holdings of UFPI. CANADA LIFE ASSURANCE Co raised its holdings in UFP Industries by 0.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 38,766 shares of the construction company’s stock worth $4,762,000 after buying an additional 137 shares during the period. BOKF NA raised its holdings in shares of UFP Industries by 108.0% during the first quarter. BOKF NA now owns 3,224 shares of the construction company’s stock worth $387,000 after acquiring an additional 1,674 shares during the period. Price T Rowe Associates Inc. MD lifted its position in UFP Industries by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock valued at $90,857,000 after acquiring an additional 5,784 shares in the last quarter. Tidal Investments LLC boosted its stake in UFP Industries by 9.6% in the 1st quarter. Tidal Investments LLC now owns 17,499 shares of the construction company’s stock worth $2,153,000 after purchasing an additional 1,534 shares during the period. Finally, GAMMA Investing LLC increased its holdings in UFP Industries by 84.2% during the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after purchasing an additional 234 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.