UFP Industries (NASDAQ:UFPI) Reaches New 52-Week High – Should You Buy?

UFP Industries, Inc. (NASDAQ:UFPI) shares 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 traded. The stock had previously closed at $135.00.

Analyst Ratings Changes

Several research firms recently weighed in on UFPI. Stifel Nicolaus increased their target price on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $120.00 to $155.00 in a research report on Tuesday. 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 research note on Wednesday, July 31st. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Finally, Benchmark lifted their target price on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.60.

UFP Industries Stock Performance

The stock’s 50 day moving average is $122.90 and its two-hundred day moving average is $119.05. The firm has a market capitalization of $8.46 billion, a P/E ratio of 16.96 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business earned $2.36 EPS. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that UFP Industries, Inc. will post 7.27 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a dividend of $0.33 per share. The ex-dividend date 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%.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds have recently bought and sold shares of UFPI. UMB Bank n.a. lifted its position in shares of UFP Industries by 300.0% during the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after buying an additional 144 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of UFP Industries during the 2nd quarter worth approximately $29,000. Opal Wealth Advisors LLC acquired a new position in shares of UFP Industries during the first quarter valued at about $33,000. Rise Advisors LLC acquired a new position in shares of UFP Industries during the first quarter worth approximately $33,000. Finally, Triad Wealth Partners LLC bought a new position in UFP Industries in the 2nd quarter valued at about $56,000. 81.81% of the stock is owned by institutional investors.

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.