UFP Industries (NASDAQ:UFPI) Sees Unusually-High Trading Volume – Time to Buy?

UFP Industries, Inc. (NASDAQ:UFPI) shares saw an uptick in trading volume on Tuesday . 357,054 shares changed 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 research firms have weighed in on UFPI. Benchmark restated a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a research report on Wednesday, February 19th. Wedbush reiterated an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. Finally, StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

UFP Industries Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The company has a market cap of $6.37 billion, a PE ratio of 15.60 and a beta of 1.45. The company’s 50 day simple moving average is $113.56 and its two-hundred day simple moving average is $122.64.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

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

Insider Buying and Selling

In related news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in UFP Industries by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock worth $213,000 after buying an additional 97 shares during the period. Robertson Stephens Wealth Management LLC grew its holdings in shares of UFP Industries by 5.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company’s stock worth $216,000 after buying an additional 104 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in UFP Industries by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company’s stock valued at $494,000 after acquiring an additional 104 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of UFP Industries by 6.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 105 shares during the period. Finally, Kingsview Wealth Management LLC raised its stake in shares of UFP Industries by 1.8% during the third quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock worth $822,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

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.