UFP Industries (NASDAQ:UFPI) Reaches New 12-Month High at $129.33

Shares of UFP Industries, Inc. (NASDAQ:UFPI) reached a new 52-week high during trading on Friday . The company traded as high as $129.33 and last traded at $129.33, with a volume of 5403 shares traded. The stock had previously closed at $125.04.

Analyst Ratings Changes

A number of analysts have commented on the stock. Benchmark dropped their price target on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and a consensus price target of $116.50.

UFP Industries Price Performance

The company’s 50 day moving average price is $116.11 and its 200-day moving average price is $116.19. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 15.55 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 4.79.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS. On average, equities research analysts forecast that UFP Industries, Inc. will post 7.53 earnings per share for the current fiscal year.

Insider Transactions at UFP Industries

In other news, insider David A. Tutas sold 3,038 shares of UFP Industries stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total value of $365,197.98. Following the transaction, the insider now directly owns 21,374 shares of the company’s stock, valued at $2,569,368.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider David A. Tutas sold 3,038 shares of UFP Industries stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total value of $365,197.98. Following the transaction, the insider now directly owns 21,374 shares of the company’s stock, valued at $2,569,368.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael R. Cole sold 1,452 shares of UFP Industries stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $119.28, for a total transaction of $173,194.56. Following the completion of the transaction, the chief financial officer now directly owns 165,155 shares in the company, valued at $19,699,688.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,687 shares of company stock valued at $3,831,653 over the last ninety days. Corporate insiders own 2.58% of the company’s stock.

Institutional Trading of UFP Industries

Several institutional investors have recently made changes to their positions in the stock. Raymond James Trust N.A. boosted its holdings in shares of UFP Industries by 14.2% during the second quarter. Raymond James Trust N.A. now owns 4,587 shares of the construction company’s stock worth $514,000 after purchasing an additional 569 shares during the period. Highland Capital Management LLC boosted its holdings in shares of UFP Industries by 13.9% during the second quarter. Highland Capital Management LLC now owns 1,871 shares of the construction company’s stock worth $210,000 after purchasing an additional 229 shares during the period. Argent Capital Management LLC boosted its holdings in shares of UFP Industries by 54.2% during the second quarter. Argent Capital Management LLC now owns 7,913 shares of the construction company’s stock worth $886,000 after purchasing an additional 2,780 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of UFP Industries by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company’s stock worth $866,000 after purchasing an additional 130 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of UFP Industries during the second quarter worth approximately $211,000. 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.