UFP Industries (NASDAQ:UFPI) Sees Unusually-High Trading Volume – Here’s Why

UFP Industries, Inc. (NASDAQ:UFPI) saw strong trading volume on Tuesday . 357,054 shares traded hands during trading, an increase of 29% from the previous session’s volume of 276,693 shares.The stock last traded at $102.79 and had previously closed at $105.16.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark reissued a “buy” rating and set a $135.00 target price on shares of UFP Industries in a research note on Wednesday, February 19th. Wedbush reiterated an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. Finally, StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Stock Performance

The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 15.60 and a beta of 1.45. The stock has a 50-day simple moving average of $113.56 and a 200-day simple moving average of $122.64. 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) last issued its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. On average, analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.33%. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, March 3rd. UFP Industries’s dividend payout ratio (DPR) is presently 20.68%.

Insider Transactions at UFP Industries

In other news, Director William G. Currie sold 5,700 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at approximately $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Putney Financial Group LLC acquired a new stake in UFP Industries in the 4th quarter valued at about $30,000. Jones Financial Companies Lllp lifted its holdings in UFP Industries by 357.8% in the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after acquiring an additional 415 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after acquiring an additional 505 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in UFP Industries in the 4th quarter valued at about $61,000. Finally, Principal Securities Inc. lifted its holdings in UFP Industries by 39.8% in the 4th quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock valued at $69,000 after acquiring an additional 175 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

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.