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

UFP Industries, Inc. (NASDAQ:UFPI) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 845,900 shares, an increase of 27.1% from the June 15th total of 665,300 shares. Based on an average daily volume of 292,600 shares, the short-interest ratio is presently 2.9 days. Currently, 1.4% of the company’s stock are short sold.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI traded up $1.18 on Friday, reaching $117.77. The company’s stock had a trading volume of 275,246 shares, compared to its average volume of 355,212. The stock’s 50-day moving average is $115.58 and its two-hundred day moving average is $116.19. UFP Industries has a 52-week low of $90.62 and a 52-week 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. The stock has a market capitalization of $7.27 billion, a P/E ratio of 14.65 and a beta of 1.40.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that UFP Industries will post 7.53 EPS for the current year.

UFP Industries Announces Dividend

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Patrick M. Benton sold 11,725 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the transaction, the insider now owns 97,729 shares in the company, valued at $11,265,221.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider David A. Tutas sold 3,038 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 21,374 shares of the company’s stock, valued at $2,569,368.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Patrick M. Benton sold 11,725 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the sale, the insider now directly owns 97,729 shares of the company’s stock, valued at $11,265,221.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,687 shares of company stock worth $3,831,653. Corporate insiders own 2.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in UFPI. American Century Companies Inc. increased its stake in shares of UFP Industries by 42.2% during the third quarter. American Century Companies Inc. now owns 252,270 shares of the construction company’s stock worth $25,832,000 after acquiring an additional 74,852 shares during the period. Wesbanco Bank Inc. acquired a new position in UFP Industries during the third quarter worth about $594,000. Teachers Retirement System of The State of Kentucky grew its position in UFP Industries by 94.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 21,133 shares of the construction company’s stock worth $2,164,000 after buying an additional 10,250 shares during the period. Public Employees Retirement System of Ohio acquired a new position in UFP Industries during the third quarter worth about $301,000. Finally, FCF Advisors LLC grew its position in UFP Industries by 80.9% during the fourth quarter. FCF Advisors LLC now owns 10,283 shares of the construction company’s stock worth $1,291,000 after buying an additional 4,598 shares during the period. 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.