UFP Industries, Inc. (NASDAQ:UFPI) Director Bruce A. Merino Sells 16,472 Shares

UFP Industries, Inc. (NASDAQ:UFPI) Director Bruce A. Merino sold 16,472 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the completion of the transaction, the director now owns 7,107 shares of the company’s stock, valued at $837,773.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

UFP Industries Trading Up 0.2 %

NASDAQ UFPI opened at $119.01 on Friday. The stock’s 50-day simple moving average is $116.29 and its two-hundred day simple moving average is $114.37. UFP Industries, Inc. has a twelve month low of $77.47 and a twelve month high of $128.65. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 14.80 and a beta of 1.47.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data 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. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. UFP Industries’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the firm posted $1.98 EPS. Research analysts forecast that UFP Industries, Inc. will post 7.37 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.11%. The ex-dividend date is Friday, May 31st. UFP Industries’s dividend payout ratio is presently 16.42%.

Hedge Funds Weigh In On UFP Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its stake in shares of UFP Industries by 14.8% during the third quarter. Commonwealth Equity Services LLC now owns 12,042 shares of the construction company’s stock valued at $1,233,000 after purchasing an additional 1,554 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in UFP Industries by 1.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,251 shares of the construction company’s stock valued at $1,664,000 after purchasing an additional 234 shares during the last quarter. Raymond James & Associates lifted its stake in UFP Industries by 59.6% in the third quarter. Raymond James & Associates now owns 80,677 shares of the construction company’s stock worth $8,261,000 after acquiring an additional 30,142 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of UFP Industries by 48.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,814 shares of the construction company’s stock worth $595,000 after purchasing an additional 1,903 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in UFP Industries by 13.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,520 shares of the construction company’s stock valued at $1,282,000 after acquiring an additional 1,511 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on UFPI. Wedbush reissued a “neutral” rating and issued a $102.00 price target on shares of UFP Industries in a report on Thursday, February 22nd. Benchmark dropped their price objective on UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus boosted their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and an average target price of $113.20.

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.