UFP Industries, Inc. (NASDAQ:UFPI) Short Interest Down 25.7% in May

UFP Industries, Inc. (NASDAQ:UFPI) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 1,070,000 shares, a decrease of 25.7% from the April 30th total of 1,440,000 shares. Based on an average daily trading volume, of 521,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.8% of the company’s shares are short sold.

UFP Industries Trading Down 0.7%

UFP Industries stock traded down $0.69 during mid-day trading on Friday, hitting $97.57. 385,612 shares of the company’s stock were exchanged, compared to its average volume of 349,916. The firm has a market capitalization of $5.89 billion, a P/E ratio of 14.41 and a beta of 1.54. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The company’s 50 day simple moving average is $102.90 and its 200-day simple moving average is $112.18. UFP Industries has a fifty-two week low of $95.90 and a fifty-two week high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Monday, April 28th. The construction company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.27). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business posted $1.96 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that UFP Industries will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.43%. UFP Industries’s payout ratio is 22.91%.

Analyst Ratings Changes

UFPI has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and issued a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. Wall Street Zen lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

Institutional Trading of UFP Industries

Several hedge funds and other institutional investors have recently modified their holdings of UFPI. Putney Financial Group LLC acquired a new stake in UFP Industries in the 4th quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in UFP Industries in the 1st quarter valued at approximately $36,000. Caitong International Asset Management Co. Ltd raised its position in UFP Industries by 39.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock valued at $45,000 after buying an additional 119 shares during the last quarter. Jones Financial Companies Lllp raised its position in UFP Industries by 357.8% in the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after buying an additional 415 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of UFP Industries by 1,683.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after purchasing an additional 505 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.