UFP Industries, Inc. (NASDAQ:UFPI) Insider Sells $365,197.98 in Stock

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) insider David A. Tutas sold 3,038 shares of the business's stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $120.21, for a total transaction of $365,197.98. Following the completion of the sale, the insider now owns 21,374 shares in the company, valued at $2,569,368.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

UFP Industries Price Performance

Shares of UFPI traded up $2.45 during midday trading on Tuesday, reaching $121.28. The stock had a trading volume of 239,374 shares, compared to its average volume of 283,015. 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 company has a market capitalization of $7.49 billion, a P/E ratio of 14.78 and a beta of 1.47. The firm's 50 day moving average price is $116.39 and its 200-day moving average price is $114.99. UFP Industries, Inc. has a 52 week low of $77.47 and a 52 week high of $128.65.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share 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 company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company earned $1.98 EPS. UFP Industries's revenue was down 10.1% on a year-over-year basis. On average, analysts forecast that UFP Industries, Inc. will post 7.47 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.09%. UFP Industries's payout ratio is presently 16.42%.

Analysts Set New Price Targets

UFPI has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. Wedbush reiterated a "neutral" rating and issued a $102.00 price target on shares of UFP Industries in a research note on Thursday, February 22nd. StockNews.com lowered UFP Industries from a "strong-buy" rating to a "buy" rating in a research note on Thursday, April 4th. Finally, Benchmark cut their target price on UFP Industries from $137.00 to $133.00 and set a "buy" rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $113.20.

Hedge Funds Weigh In On UFP Industries

Several large investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in UFP Industries in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC bought a new stake in UFP Industries in the fourth quarter valued at about $30,000. Rise Advisors LLC bought a new position in UFP Industries during the first quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of UFP Industries in the 1st quarter valued at approximately $33,000. Finally, SRS Capital Advisors Inc. boosted its position in shares of UFP Industries by 218.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company's stock worth $36,000 after purchasing an additional 197 shares in 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.

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