UFP Industries (NASDAQ:UFPI) Sets New 52-Week High – Still a Buy?

UFP Industries, Inc. (NASDAQ:UFPI) reached a new 52-week high on Tuesday . The stock traded as high as $139.43 and last traded at $139.19, with a volume of 11852 shares. The stock had previously closed at $138.40.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on UFPI shares. Stifel Nicolaus raised their price target 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. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Benchmark upped their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Finally, Wedbush upgraded UFP Industries from a “neutral” rating to an “outperform” rating and upped their target price for the company from $120.00 to $155.00 in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.60.

UFP Industries Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. The business has a 50 day moving average price of $124.61 and a 200-day moving average price of $119.73. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 17.02 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. UFP Industries’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.36 EPS. Research analysts predict that UFP Industries, Inc. will post 7.29 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 0.96%. UFP Industries’s dividend payout ratio is presently 16.42%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Integrated Advisors Network LLC bought a new position in shares of UFP Industries in the fourth quarter valued at approximately $444,000. B. Riley Wealth Advisors Inc. purchased a new position in UFP Industries during the fourth quarter worth about $201,000. Los Angeles Capital Management LLC grew its position in UFP Industries by 5.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 28,238 shares of the construction company’s stock worth $3,474,000 after purchasing an additional 1,425 shares in the last quarter. Rise Advisors LLC purchased a new stake in UFP Industries in the 1st quarter valued at about $33,000. Finally, Opal Wealth Advisors LLC purchased a new stake in UFP Industries in the 1st quarter valued at about $33,000. 81.81% of the stock is 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.