UFP Industries (NASDAQ:UFPI) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

UFP Industries, Inc. (NASDAQ:UFPI) passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $79.99 and traded as low as $78.89. UFP Industries shares last traded at $79.10, with a volume of 292,047 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on UFPI shares. Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, October 12th. Stifel Nicolaus set a $85.00 price target on UFP Industries and gave the stock a “hold” rating in a research note on Monday, October 26th. DA Davidson reaffirmed a “buy” rating and set a $105.00 price target on shares of UFP Industries in a research note on Tuesday, October 27th. Oppenheimer assumed coverage on UFP Industries in a report on Wednesday, September 30th. They issued a “market perform” rating on the stock. Finally, Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 3rd. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries presently has an average rating of “Hold” and a consensus price target of $103.25.

UFP Industries Price Performance

The company has a current ratio of 3.86, a quick ratio of 2.58 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average is $79.99 and its 200 day moving average is $88.59. The company has a market cap of $4.32 billion, a P/E ratio of 19.20 and a beta of 1.14.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, October 28th. The construction company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.15). UFP Industries had a net margin of 3.61% and a return on equity of 7.53%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.60 billion. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 4.18 EPS for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, December 1st. UFP Industries’s dividend payout ratio is currently 34.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in UFP Industries in the 2nd quarter valued at about $688,063,000. Royce & Associates LP boosted its position in UFP Industries by 11.9% during the third quarter. Royce & Associates LP now owns 921,930 shares of the construction company’s stock worth $71,191,000 after purchasing an additional 98,341 shares during the period. Bank of New York Mellon Corp bought a new position in UFP Industries during the second quarter worth about $34,067,000. Bank of America Corp DE bought a new position in UFP Industries during the second quarter worth about $25,529,000. Finally, Sei Investments Co. boosted its position in UFP Industries by 19.1% during the first quarter. Sei Investments Co. now owns 262,394 shares of the construction company’s stock worth $24,171,000 after purchasing an additional 42,171 shares during the period. Institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc. is a manufacturer and distributor of wood and other materials used in construction, packaging and retail products. Founded in 1955 as Universal Forest Products, the company adopted its current name in 2020. Its businesses supply products such as lumber, decking and other outdoor-living materials; pallets, crates and custom industrial packaging; and components for residential and commercial construction. UFP also serves customers in manufactured housing and other building-related markets.