UFP Industries (NASDAQ:UFPI) Shares Gap Down – Time to Sell?

UFP Industries, Inc. (NASDAQ:UFPI)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $116.35, but opened at $113.00. UFP Industries shares last traded at $113.22, with a volume of 34,320 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. StockNews.com upgraded UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Price Performance

The stock has a fifty day moving average price of $115.84 and a 200-day moving average price of $123.25. The company has a market cap of $6.95 billion, a PE ratio of 15.74 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio is presently 18.16%.

Insider Activity

In related news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the completion of the sale, the chief executive officer now directly owns 314,450 shares in the company, valued at approximately $41,202,383.50. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William G. Currie sold 5,700 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the sale, the director now owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On UFP Industries

Several institutional investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in UFP Industries by 7.1% during the fourth 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. increased its stake in shares of UFP Industries by 39.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company’s stock worth $174,241,000 after purchasing an additional 435,155 shares during the period. Geode Capital Management LLC increased its stake in shares of UFP Industries by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock worth $200,553,000 after purchasing an additional 14,857 shares during the period. Franklin Resources Inc. increased its stake in shares of UFP Industries by 5.0% in the fourth quarter. Franklin Resources Inc. now owns 1,287,833 shares of the construction company’s stock worth $145,074,000 after purchasing an additional 61,861 shares during the period. Finally, Northern Trust Corp increased its stake in shares of UFP Industries by 9.7% in the fourth quarter. Northern Trust Corp now owns 1,111,147 shares of the construction company’s stock worth $125,171,000 after purchasing an additional 98,533 shares during the period. 81.81% of the stock is currently owned by 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.