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

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

Analyst Ratings Changes

UFPI has been the topic of several analyst reports. Benchmark lifted their target price on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. BMO Capital Markets raised their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a report on Monday. Finally, Stifel Nicolaus increased their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

UFP Industries Price Performance

The company has a market cap of $8.21 billion, a PE ratio of 18.63 and a beta of 1.39. The firm’s 50-day moving average is $131.39 and its 200-day moving average is $122.77. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced 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). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the company posted $2.10 EPS. The firm’s revenue was down 9.8% on a year-over-year basis. On average, equities analysts anticipate that UFP Industries, Inc. will post 6.89 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Insider Buying and Selling

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the completion of the transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.58% of the stock is owned by company insiders.

Institutional Trading of UFP Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its stake in shares of UFP Industries by 299.5% in the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after acquiring an additional 4,597 shares during the last quarter. Hsbc Holdings PLC grew its position in UFP Industries by 233.2% during the 2nd quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock valued at $729,000 after purchasing an additional 4,595 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in UFP Industries by 0.8% during 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 purchasing an additional 5,784 shares in the last quarter. Raymond James & Associates raised its holdings in UFP Industries by 16.2% in the second quarter. Raymond James & Associates now owns 209,085 shares of the construction company’s stock worth $23,417,000 after buying an additional 29,221 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of UFP Industries by 131.4% in the second quarter. Blue Trust Inc. now owns 870 shares of the construction company’s stock worth $107,000 after buying an additional 494 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

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.