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

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

Institutional Trading of UFP Industries

Institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its stake in shares of UFP Industries by 109.0% during the third quarter. Barclays PLC now owns 135,996 shares of the construction company's stock valued at $17,844,000 after acquiring an additional 70,927 shares during the period. Blue Trust Inc. increased its holdings in UFP Industries by 62.1% during the 4th quarter. Blue Trust Inc. now owns 1,796 shares of the construction company's stock worth $202,000 after purchasing an additional 688 shares in the last quarter. Highland Capital Management LLC raised its position in UFP Industries by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 2,222 shares of the construction company's stock valued at $250,000 after buying an additional 138 shares during the last quarter. Copeland Capital Management LLC lifted its position in shares of UFP Industries by 0.3% in the fourth quarter. Copeland Capital Management LLC now owns 548,104 shares of the construction company's stock worth $61,744,000 after purchasing an additional 1,907 shares in the last quarter. Finally, Greenleaf Trust acquired a new position in shares of UFP Industries during the 4th quarter worth about $424,000. Institutional investors and hedge funds own 81.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on UFPI shares. Wall Street Zen downgraded shares of UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark restated a "buy" rating and issued a $135.00 target price on shares of UFP Industries in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, UFP Industries has a consensus rating of "Moderate Buy" and a consensus price target of $143.00.

UFP Industries Price Performance

NASDAQ:UFPI traded up $1.88 during mid-day trading on Tuesday, reaching $97.65. 349,209 shares of the stock were exchanged, compared to its average volume of 351,225. UFP Industries has a 1-year low of $94.68 and a 1-year high of $141.33. The firm has a market capitalization of $5.90 billion, a PE ratio of 14.42 and a beta of 1.54. The business has a fifty day moving average price of $102.36 and a 200 day moving average price of $111.71. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly 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 in the prior year, the business posted $1.96 earnings per share. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. Research analysts expect that UFP Industries will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, June 2nd. UFP Industries's dividend payout ratio (DPR) is presently 22.91%.

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.