UFP Industries (NASDAQ:UFPI) Sets New 12-Month High – Should You Buy?

UFP Industries, Inc. (NASDAQ:UFPI) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $116.71 and last traded at $114.3650, with a volume of 14518 shares trading hands. The stock had previously closed at $115.62.

Analysts Set New Price Targets

A number of research firms have issued reports on UFPI. DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $112.00 in a report on Friday, October 31st. Stifel Nicolaus set a $98.00 target price on UFP Industries in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. Finally, Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, UFP Industries has a consensus rating of “Hold” and a consensus price target of $114.25.

UFP Industries Trading Down 1.4%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. The business’s 50-day moving average price is $99.10 and its 200 day moving average price is $96.87. The company has a market cap of $6.64 billion, a P/E ratio of 20.97 and a beta of 1.49.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the completion of the transaction, the chairman directly owned 310,533 shares of the company’s stock, valued at $28,649,774.58. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the sale, the director owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. This represents a 7.50% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in shares of UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after acquiring an additional 114 shares in the last quarter. Signaturefd LLC grew its holdings in shares of UFP Industries by 66.1% during the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock worth $35,000 after purchasing an additional 154 shares in the last quarter. Danske Bank A S raised its stake in UFP Industries by 300.0% in the fourth quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. IFP Advisors Inc lifted its position in UFP Industries by 84.8% during the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock worth $38,000 after purchasing an additional 190 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in UFP Industries by 648.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock valued at $41,000 after buying an additional 376 shares during the period. Institutional investors own 81.81% of the company’s stock.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.