Short Interest in UFP Industries, Inc. (NASDAQ:UFPI) Rises By 46.0%

UFP Industries, Inc. (NASDAQ:UFPI) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,120,000 shares, an increase of 46.0% from the February 13th total of 767,000 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 344,100 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Putney Financial Group LLC acquired a new stake in shares of UFP Industries during the 4th quarter worth approximately $30,000. Smartleaf Asset Management LLC boosted its position in shares of UFP Industries by 1,683.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock worth $60,000 after acquiring an additional 505 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of UFP Industries by 357.8% during the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock worth $60,000 after acquiring an additional 415 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of UFP Industries during the 4th quarter worth approximately $61,000. Finally, Principal Securities Inc. lifted its stake 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 purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Price Performance

Shares of UFPI stock opened at $106.55 on Monday. UFP Industries has a 12-month low of $102.35 and a 12-month high of $141.33. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 15.74 and a beta of 1.52. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average of $112.43 and a 200-day moving average of $121.71.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). The business had revenue of $1.46 billion for 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, equities research analysts forecast that UFP Industries will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Monday, March 3rd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio is presently 20.68%.

Analysts Set New Price Targets

A number of brokerages have recently commented on UFPI. StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of UFP Industries in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $143.00.

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.