UFP Industries (NASDAQ:UFPI) Sees Large Volume Increase - Here's Why

Shares of UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 357,054 shares changed hands during mid-day 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.

Analysts Set New Price Targets

UFPI has been the subject of several research analyst reports. Benchmark reiterated a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com downgraded UFP Industries from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $143.00.

UFP Industries Trading Up 1.7 %

The stock has a 50 day simple moving average of $113.02 and a 200-day simple moving average of $122.27. The firm has a market capitalization of $6.62 billion, a P/E ratio of 16.12 and a beta of 1.52. 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 - Get Free Report) last released its quarterly 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 firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. On average, equities research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

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UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.35 per share. This is an increase from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, March 3rd. UFP Industries's payout ratio is currently 20.68%.

Insider Buying and Selling at UFP Industries

In other news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the transaction, the director now directly owns 61,140 shares of the company's stock, valued at $7,739,712.60. The trade was a 8.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.58% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. FMR LLC lifted its position in shares of UFP Industries by 7.1% during the 4th quarter. FMR LLC now owns 1,751,264 shares of the construction company's stock valued at $197,280,000 after buying an additional 115,687 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of UFP Industries by 39.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company's stock valued at $174,241,000 after buying an additional 435,155 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of UFP Industries by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company's stock valued at $200,553,000 after buying an additional 14,857 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of UFP Industries by 5.0% during the 4th quarter. Franklin Resources Inc. now owns 1,287,833 shares of the construction company's stock valued at $145,074,000 after buying an additional 61,861 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of UFP Industries by 9.7% during the 4th quarter. Northern Trust Corp now owns 1,111,147 shares of the construction company's stock valued at $125,171,000 after buying an additional 98,533 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

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.