UFP Industries, Inc. (NASDAQ:UFPI) Sees Significant Increase in Short Interest

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 large growth in short interest in July. As of July 15th, there was short interest totaling 1,210,000 shares, agrowthof302.7% from the June 30th total of 300,500 shares. Currently,2.1% of the shares of the company are sold short. Based on an average daily volume of 478,000 shares, the short-interest ratio is currently 2.5 days. Based on an average daily volume of 478,000 shares, the short-interest ratio is currently 2.5 days. Currently,2.1% of the shares of the company are sold short.

UFP Industries Trading Down 0.3%

Shares of UFPI traded down $0.27 during mid-day trading on Friday, reaching $97.73. The stock had a trading volume of 371,757 shares, compared to its average volume of 378,421. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 16.97 and a beta of 1.43. The business's fifty day moving average is $100.49 and its 200 day moving average is $105.24. 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 issued its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.25). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a return on equity of 10.95% and a net margin of 5.31%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 EPS. On average, sell-side analysts predict that UFP Industries will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.4%. UFP Industries's dividend payout ratio (DPR) is presently 24.31%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of UFP Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UFPI. LPL Financial LLC grew its position in UFP Industries by 3.0% in the 4th quarter. LPL Financial LLC now owns 16,410 shares of the construction company's stock valued at $1,849,000 after buying an additional 484 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of UFP Industries by 10.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,741 shares of the construction company's stock valued at $985,000 after acquiring an additional 832 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of UFP Industries by 13.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,099 shares of the construction company's stock valued at $1,250,000 after acquiring an additional 1,339 shares during the last quarter. Huntington National Bank increased its stake in shares of UFP Industries by 19.3% during the 4th quarter. Huntington National Bank now owns 1,882 shares of the construction company's stock valued at $212,000 after acquiring an additional 304 shares during the last quarter. Finally, Integrated Quantitative Investments LLC purchased a new stake in shares of UFP Industries during the 4th quarter worth about $321,000. 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.