UFP Industries, Inc. (NASDAQ:UFPI) Director Bruce A. Merino Sells 16,472 Shares

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) Director Bruce A. Merino sold 16,472 shares of the firm's 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 completion of the transaction, the director now owns 7,107 shares of the company's stock, valued at approximately $837,773.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

UFP Industries Trading Up 0.2 %

NASDAQ:UFPI traded up $0.23 during mid-day trading on Thursday, reaching $119.01. The company's stock had a trading volume of 315,602 shares, compared to its average volume of 285,473. The company's fifty day simple moving average is $116.20 and its two-hundred day simple moving average is $114.34. 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, Inc. has a twelve month low of $77.47 and a twelve month high of $128.65. The stock has a market cap of $7.32 billion, a P/E ratio of 14.77 and a beta of 1.47.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.34. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The firm's quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.98 earnings per share. On average, equities analysts predict that UFP Industries, Inc. will post 7.37 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.32 dividend on an annualized basis and a yield of 1.11%. UFP Industries's dividend payout ratio (DPR) is 16.42%.

Institutional Investors Weigh In On UFP Industries

Several institutional investors have recently bought and sold shares of the business. Blair William & Co. IL raised its stake in shares of UFP Industries by 42.6% in the 1st quarter. Blair William & Co. IL now owns 6,509 shares of the construction company's stock valued at $801,000 after acquiring an additional 1,943 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of UFP Industries during the first quarter worth about $6,991,000. Kingsview Wealth Management LLC raised its holdings in shares of UFP Industries by 27.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 5,690 shares of the construction company's stock valued at $700,000 after buying an additional 1,212 shares during the period. Foundry Partners LLC lifted its position in UFP Industries by 13.1% during the 1st quarter. Foundry Partners LLC now owns 39,107 shares of the construction company's stock worth $4,811,000 after acquiring an additional 4,526 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in UFP Industries by 21.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,890 shares of the construction company's stock worth $2,570,000 after acquiring an additional 3,701 shares during the period. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Stifel Nicolaus increased their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Wedbush reissued a "neutral" rating and set a $102.00 price objective on shares of UFP Industries in a research note on Thursday, February 22nd. Benchmark dropped their price target on UFP Industries from $137.00 to $133.00 and set a "buy" rating for the company in a research report on Wednesday, May 1st. Finally, StockNews.com downgraded UFP Industries from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, UFP Industries has a consensus rating of "Moderate Buy" and an average price target of $113.20.

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.

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