Short Interest in UFP Industries, Inc. (NASDAQ:UFPI) Rises By 302.7%

Key Points

• UFP Industries experienced a significant increase in short interest, rising by 302.7% to a total of 1,210,000 shares as of July 15th, indicating a bearish sentiment among investors.
• The company reported a quarterly EPS of $1.70, which missed analysts' expectations by $0.25, with revenue of $1.84 billion, a decline of 3.5% year-over-year.
• UFP Industries announced a quarterly dividend of $0.35 per share, representing an annualized yield of 1.4%, which will be paid on September 15th to shareholders of record on September 1st.

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 1,210,000 shares, anincreaseof302.7% from the June 30th total of 300,500 shares. Approximately2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 478,000 shares, the days-to-cover ratio is presently 2.5 days. Based on an average daily trading volume, of 478,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately2.1% of the shares of the company are sold short.

UFP Industries Stock Performance

NASDAQ UFPI traded down $0.57 during trading hours on Wednesday, reaching $99.04. The stock had a trading volume of 124,592 shares, compared to its average volume of 441,565. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. The stock has a market cap of $5.98 billion, a P/E ratio of 17.17 and a beta of 1.43. The stock has a fifty day moving average of $100.53 and a 200 day moving average of $105.07. UFP Industries has a 52-week low of $93.00 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25). UFP Industries had a return on equity of 10.95% and a net margin of 5.31%. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the prior year, the company posted $2.05 earnings per share. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. Sell-side analysts predict that UFP Industries will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a $0.35 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. UFP Industries's payout ratio is 24.31%.

Institutional Trading of UFP Industries

Institutional investors have recently modified their holdings of the business. Boston Partners increased its position in UFP Industries by 118.6% in the 1st quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock valued at $157,270,000 after acquiring an additional 797,069 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of UFP Industries by 17.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company's stock valued at $401,550,000 after buying an additional 568,741 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in UFP Industries by 39.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company's stock valued at $174,241,000 after purchasing an additional 435,155 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of UFP Industries in the fourth quarter worth about $30,457,000. Finally, First Trust Advisors LP lifted its position in shares of UFP Industries by 39.3% in the fourth quarter. First Trust Advisors LP now owns 791,886 shares of the construction company's stock worth $89,206,000 after buying an additional 223,522 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Loop Capital began coverage on shares of UFP Industries in a research note on Wednesday, July 23rd. They set a "hold" rating and a $112.00 target price on the 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.