Patrick M. Benton Sells 11,725 Shares of UFP Industries, Inc. (NASDAQ:UFPI) Stock

UFP Industries, Inc. (NASDAQ:UFPI) insider Patrick M. Benton sold 11,725 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $115.27, for a total value of $1,351,540.75. Following the sale, the insider now directly owns 97,729 shares of the company’s stock, valued at approximately $11,265,221.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

UFP Industries Trading Down 1.7 %

Shares of UFPI opened at $114.47 on Friday. The stock’s 50-day moving average is $116.52 and its two-hundred day moving average is $117.09. The stock has a market cap of $7.07 billion, a PE ratio of 14.24 and a beta of 1.45. UFP Industries, Inc. has a 12 month low of $87.13 and a 12 month high of $128.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.37.

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

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Monday, June 3rd. UFP Industries’s dividend payout ratio (DPR) is 16.42%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UFPI. Van ECK Associates Corp lifted its stake in shares of UFP Industries by 42.8% in the third quarter. Van ECK Associates Corp now owns 14,167 shares of the construction company’s stock worth $1,451,000 after acquiring an additional 4,246 shares in the last quarter. Pathstone Family Office LLC acquired a new stake in UFP Industries during the third quarter valued at approximately $278,000. HighTower Advisors LLC raised its stake in UFP Industries by 24.8% during the third quarter. HighTower Advisors LLC now owns 3,675 shares of the construction company’s stock valued at $378,000 after buying an additional 731 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in UFP Industries by 1,161.7% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,129 shares of the construction company’s stock valued at $320,000 after buying an additional 2,881 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in UFP Industries during the third quarter valued at approximately $59,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

UFPI has been the subject of a number of research reports. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Wedbush reissued a “neutral” rating and set a $102.00 price target on shares of UFP Industries in a research report on Thursday, February 22nd. Benchmark reduced their price objective on UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus boosted their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries has a consensus rating of “Moderate Buy” and a consensus price target of $116.50.

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.