UFP Industries Inc. (NASDAQ:UFPI) Director Bruce A. Merino Sells 8000 Shares

UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) Director Bruce A. Merino sold 8,000 shares of the company’s stock in a transaction that took place on Wednesday, June 14. The shares were sold at an average price of $88.36 for a total transaction value of $706,880.00. Following the transaction, the directors now own directly 22,312 shares of the Company, valued at $1,971,488.32. The transaction was disclosed in legal filings with the Securities and Exchange Commission, which can be accessed via this hyperlink.

UFP Industry Stock Performance

The Nasdaq UFPI fell $0.16 to $89.28 during Friday’s trading hours. 706,274 shares were traded against an average turnover of 486,070 shares in the company’s stock. The company has a market capitalization of $5.5 billion, a P/E of 8.97 times, and a beta of 1.47 times. UFP Industries hit a 52-week low of $64.13 and a 52-week high of $99.40. His 50-day moving average price for this company is his $81.89 and his 200-day moving average price is $83.15. The company’s current ratio is 4.27x, quick ratio is 2.46x, and debt-to-equity ratio is 0.10x.

UFP Industries (NASDAQ:UFPI – Get Rating) last reported quarterly results on Tuesday, May 2nd. The construction firm reported earnings per share of $1.98 for the quarter, beating analyst consensus forecast of $1.65 by $0.33. The business had sales of $1.82 billion in the quarter, compared with analyst expectations of $1.86 billion. UFP Industries had a net profit margin of 7.02% and a return on equity of 24.92%. The company’s revenue fell by 26.8% year-on-year. In the same period last year, the business posted his $3.00 earnings per share. An equity research analyst expects UFP Industries, Inc.’s EPS to hit 8.29 this year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid out on Thursday, June 15. Shareholders of record on Thursday, June 1, were given a dividend of $0.25. The ex-dividend date for this dividend was Wednesday, May 31. This equates to his $1.00 dividend and his 1.12% dividend yield on an annualized basis. UFP Industries’ current payout ratio is 10.03%.

Wall Street analysts forecast growth

Several research analysts have recently voiced their opinion on stock prices. DA Davidson raised his price target on UFP Industries stock to $112.00 from $102.00 in a report on Wednesday, May 3. In a research report on Wednesday, May 3, Stifel Nikolaus lowered his price target on UFP Industries stock to $100.00 from $102.00. BMO Capital Markets raised its price target on UFP Industries stock to $100.00 from $95.00 in a research report on Tuesday, May 16. StockNews.com began covering UFP Industries shares in a research report on Thursday, May 18. They set a “buy” rating for the company. Finally, Benchmark raised its price target on UFP Industries stock from $85.00 to $102.00, giving the company a “buy” rating in its research report on Thursday, Feb. 23.

Hedge Fund Impacts UFP Industry

A number of hedge funds recently changed their stakes in the company. Meritage Portfolio Management boosted its position in UFP Industries stock by 3.6% in the fourth quarter. Meritage Portfolio Management purchased an additional 117 shares during the period and now owns 3,354 shares in the construction company, valued at $266,000. Harfst & Associates Inc. boosted his UFP Industries stock position by 0.6% during the fourth quarter. Harfst & Associates Inc. acquired an additional 125 shares during the last quarter and now owns 21,527 shares of the construction company, valued at $1,706,000. SummerHaven Investment Management LLC increased his stake in UFP Industries by 1.3% during the fourth quarter. Summerhaven Investment Management LLC acquired an additional 142 shares last quarter and now owns 10,856 shares worth $860,000 in construction company stock. Advisor Partners II LLC increased his UFP Industries stake by 3.3% during the fourth quarter. Advisor Partners II LLC now owns 4,597 shares of construction company stock, valued at $364,000, after acquiring an additional 146 shares last quarter. Finally, Mackenzie Financial Corp increased its stake in UFP Industries by 3.3% in the first quarter. Mackenzie Financial Corporation acquired another 152 shares last quarter and now owns 4,771 shares in the construction company, valued at $368,000. Institutional investors currently hold 81.69% of the shares.

About UFP Industries

(get rating)

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 the retail, packaging and construction segments. The retail segment offers treated wood products, including decking, fences, gratings and other products. A pressure treated flame retardant product used primarily for outdoor deck environments. Lawn and garden products include wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.

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UFP Industry Quarterly Insider Trading (NASDAQ:UFPI)

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