UFP Industries, Inc. (NASDAQ:UFPI) Short Interest Down 23.9% in December

UFP Industries, Inc. (NASDAQ:UFPI) saw a significant decline in short-term interest in December. As of December 31, there was short interest totaling 515,100 shares, a decrease of 23.9% from the total of 677,100 shares as of December 15. Based on an average daily volume of 252,500 shares, the day-to-cover ratio is currently 2.0 days. Currently, 0.9% of the company’s shares are sold short.

In other UFP Industries news, CEO Matthew J. Missad sold 1,049 shares of the company in a trade dated Thursday, Nov. 18. The stock was sold at an average price of $90.22, for a total transaction of $94,640.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.53% of the shares of the company.

A number of institutional investors have recently changed their positions in the stock. Legend Financial Advisors Inc. increased its stake in UFP Industries by 1.3% in the third quarter. Legend Financial Advisors Inc. now owns 9,888 shares of the construction company valued at $672,000 after buying 131 additional shares in the last quarter. Synovus Financial Corp increased its holdings of UFP Industries shares by 1.2% during the third quarter. Synovus Financial Corp now owns 11,207 shares of the construction company valued at $762,000 after buying 135 more shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings of UFP Industries shares by 3.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 4,266 shares of the construction company valued at $290,000 after buying 161 additional shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings of UFP Industries shares by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 33,583 shares of the construction company valued at $2,497,000 after buying 166 more shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings of UFP Industries shares by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the construction company valued at $2,760,000 after buying 200 more shares last quarter. 79.92% of the shares are held by hedge funds and other institutional investors.

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Separately, Stifel Nicolaus raised his price target on UFP Industries from $91.00 to $95.00 and gave the stock a “buy” rating in a Thursday, October 21 research note. Two analysts have assigned the stock a hold rating, four have issued a buy rating and one has issued a strong buy rating for the company’s stock. Based on data from MarketBeat.com, UFP Industries currently has an average rating of “Buy” and an average target price of $88.00.

Shares of UFP Industries opened at $84.97 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 2.89 and a debt ratio of 0.17. The company has a market capitalization of $5.26 billion, a P/E ratio of 11.48 and a beta of 1.51. UFP Industries has a fifty-two week low of $53.77 and a fifty-two week high of $94.80. The company has a 50-day moving average price of $88.86 and a 200-day moving average price of $79.47.

UFP Industries (NASDAQ:UFPI) last reported quarterly earnings data on Tuesday, October 19. The construction company reported earnings per share of $1.93 for the quarter, beating Thomson Reuters consensus estimate of $1.55 by $0.38. The company posted revenue of $2.09 billion in the quarter, compared to analysts’ estimates of $1.81 billion. UFP Industries posted a return on equity of 26.85% and a net margin of 5.75%. UFP Industries quarterly revenue increased 40.9% year over year. During the same period of the previous year, the company made earnings per share of $1.25. As a group, equity research analysts expect UFP Industries to post earnings per share of 7.46 for the current year.

About UFP Industries

UFP Industries, Inc. manufactures and distributes wood and wood-alternative products. It operates through the following segments: Retail, Industrial and Construction. The retail segment includes national home center retailers, regional retail-focused lumberyards and contractor-focused lumberyards. The Industrial segment manufactures pallets, specialty crates, wooden crates and other containers used for packaging, shipping and handling purposes.

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