Short Interest in UFP Industries, Inc. (NASDAQ:UFPI) Grows By 27.1%

UFP Industries, Inc. (NASDAQ:UFPI) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 845,900 shares, a growth of 27.1% from the June 15th total of 665,300 shares. Based on an average trading volume of 292,600 shares, the days-to-cover ratio is presently 2.9 days. Approximately 1.4% of the shares of the company are sold short.

UFP Industries Price Performance

UFPI stock opened at $117.77 on Monday. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 14.65 and a beta of 1.41. The stock’s fifty day simple moving average is $115.58 and its 200-day simple moving average is $116.12. UFP Industries has a 52-week low of $90.62 and a 52-week high of $128.65. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $1.98 EPS. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. Equities research analysts expect that UFP Industries will post 7.53 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.12%. The ex-dividend date was Monday, June 3rd. UFP Industries’s dividend payout ratio (DPR) is 16.42%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Bruce A. Merino sold 16,472 shares of UFP Industries stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total value of $1,941,719.36. Following the transaction, the director now directly owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Bruce A. Merino sold 16,472 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the transaction, the director now directly owns 7,107 shares in the company, valued at $837,773.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael R. Cole sold 1,452 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $119.28, for a total value of $173,194.56. Following the completion of the transaction, the chief financial officer now owns 165,155 shares of the company’s stock, valued at approximately $19,699,688.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,687 shares of company stock valued at $3,831,653. 2.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UFP Industries

A number of large investors have recently bought and sold shares of the stock. TFG Advisers LLC raised its position in shares of UFP Industries by 5.2% in the 1st quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock worth $230,000 after buying an additional 92 shares during the period. Cadence Bank grew its holdings in shares of UFP Industries by 0.6% during the 1st quarter. Cadence Bank now owns 19,464 shares of the construction company’s stock worth $2,394,000 after purchasing an additional 110 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of UFP Industries by 4.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,566 shares of the construction company’s stock worth $322,000 after purchasing an additional 119 shares during the period. Blue Trust Inc. increased its position in UFP Industries by 25.6% during the 4th quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock worth $75,000 after purchasing an additional 121 shares in the last quarter. Finally, Legacy Trust raised its holdings in UFP Industries by 1.1% in the first quarter. Legacy Trust now owns 11,009 shares of the construction company’s stock valued at $1,354,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

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.