UFP Industries Inc. (NASDAQ:UFPI) Chief Financial Officer, Michael R. Cole, has recently sold a portion of his company stock, according to the latest filings. The transaction involved the sale of 1,452 shares at a price of $119.285, totaling approximately $173,201.
The sale took place on May 13, 2024, and was reported in a Form 4 filing with the Securities and Exchange Commission. Following the sale, Cole continues to hold a significant number of shares directly and indirectly. Directly, he owns 165,155 shares of UFP Industries common stock. Additionally, the filing included indirect holdings: 29,015 units in the company stock fund, which are represented in the company's 401k plan, and 26,422 units as part of a deferred compensation interest, as noted in the footnotes of the filing. It is important to clarify that the units in the company stock fund do not represent actual company shares.
UFP Industries, headquartered in Grand Rapids, Michigan, is a prominent player in the sawmills and planning mills industry. The company, formerly known as Universal Forest (NASDAQ:UFPI) Products Inc., has a wide range of products and services that cater to the retail, industrial, and construction markets.
Investors and stakeholders often monitor the buying and selling activities of a company's executives as it provides insights into their perspective on the company's current valuation and future prospects. Transactions such as these are typical and are disclosed in compliance with SEC regulations.
For those interested in the company's performance and insider transactions, UFP Industries Inc.'s stock can be followed on the NASDAQ under the ticker symbol UFPI.
InvestingPro Insights
Amidst the news of UFP Industries Inc. (NASDAQ:UFPI) CFO Michael R. Cole's recent stock transaction, investors may be seeking additional context on the company's financial health and performance metrics. According to InvestingPro data, UFP Industries currently holds a market capitalization of $7.41 billion USD as of the first quarter of 2024. The company's Price to Earnings (P/E) ratio stands at 14.81, with a slight adjustment to 15.28 when considering the last twelve months as of Q1 2024. Despite a revenue decline of 21.48% over the last twelve months, the company has demonstrated a robust gross profit margin of 19.71%.
Two InvestingPro Tips that might be particularly relevant to shareholders and potential investors are that UFP Industries holds more cash than debt on its balance sheet, and has impressively maintained dividend payments for 32 consecutive years. The company's commitment to returning value to shareholders is further evidenced by the fact that it has raised its dividend for 11 consecutive years, showcasing a strong track record of financial stability and shareholder loyalty.
For those looking to delve deeper into UFP Industries' financials and performance indicators, there are an additional 7 InvestingPro Tips available, which can provide a more comprehensive understanding of the company's outlook. Interested readers can find these valuable insights by visiting the dedicated page for UFPI on InvestingPro. Moreover, users can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to an even broader array of investment tools and data.
Overall, while insider transactions like those of CFO Michael R. Cole are noteworthy, they represent only a fraction of the information available to those monitoring UFP Industries. The broader financial data and trends, as highlighted by InvestingPro, provide a more holistic view of the company's performance and potential.
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