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

UFP Industries, Inc. (NASDAQ:UFPI) reached a new 52-week high on Wednesday . The company traded as high as $136.93 and last traded at $136.57, with a volume of 37229 shares trading hands. The stock had previously closed at $135.00.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UFPI. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Benchmark boosted their price target on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. 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. Finally, Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $120.00 to $155.00 in a research report on Tuesday. Two analysts have rated the stock with a hold rating and four have issued 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 $139.60.

UFP Industries Price Performance

The stock’s 50-day moving average price is $123.16 and its 200-day moving average price is $119.29. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 17.71 and a beta of 1.39. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business earned $2.36 earnings per share. UFP Industries’s quarterly revenue was down 6.9% on a year-over-year basis. Equities research analysts anticipate that UFP Industries, Inc. will post 7.29 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.32 annualized dividend and a yield of 0.96%. UFP Industries’s dividend payout ratio is currently 17.08%.

Hedge Funds Weigh In On UFP Industries

Several large investors have recently bought and sold shares of UFPI. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in UFP Industries by 82.3% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock valued at $29,007,000 after buying an additional 114,166 shares during the period. AQR Capital Management LLC increased its stake in UFP Industries by 22.7% in the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after purchasing an additional 112,518 shares in the last quarter. Picton Mahoney Asset Management increased its stake in UFP Industries by 103.3% in the second quarter. Picton Mahoney Asset Management now owns 115,549 shares of the construction company’s stock valued at $12,941,000 after purchasing an additional 58,724 shares in the last quarter. F M Investments LLC bought a new stake in UFP Industries in the second quarter valued at approximately $6,028,000. Finally, Cubist Systematic Strategies LLC increased its stake in UFP Industries by 289.5% in the second quarter. Cubist Systematic Strategies LLC now owns 56,966 shares of the construction company’s stock valued at $6,380,000 after purchasing an additional 42,341 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

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.