UFP Industries Inc (NASDAQ:UFPI) director William G. Currie has sold 1,060 shares of company stock, totaling approximately $126,431. The transaction was executed at a price of $119.275 per share.
On May 17, 2024, Currie, who serves as a director on the board of UFP Industries, partook in a sale of shares held indirectly through a trust. Following this transaction, Currie's indirect ownership via the trust now stands at 31,317 shares of common stock.
In addition to the shares held by the trust, Currie's direct and indirect holdings in UFP Industries include 15,000 shares owned directly and 33,098 shares held indirectly with deferred compensation interest, which includes shares acquired through a dividend reinvestment plan. Furthermore, Currie also has an indirect ownership of 66,840 shares by an IRA.
The sale by Currie is part of the routine disclosures that directors of publicly traded companies are required to make. These transactions are publicly reported to provide transparency to investors and maintain fair markets.
UFP Industries, formerly known as Universal Forest (NASDAQ:UFPI) Products, is a company with a primary focus in the manufacturing sector, specifically within sawmills and planning mills. The company is headquartered in Grand Rapids, Michigan, and is incorporated in the state.
Investors and market watchers often monitor insider transactions as they can provide insights into a company's financial health and future prospects. However, it is important to note that these transactions may not necessarily indicate a change in company outlook, as they can be motivated by a variety of personal financial considerations.
InvestingPro Insights
Amidst the news of UFP Industries Inc (NASDAQ:UFPI) director William G. Currie's recent sale of company stock, investors may find additional context through key metrics and insights from InvestingPro. With a market capitalization of $7.38 billion and a price-to-earnings (P/E) ratio of 14.77, UFPI presents a value proposition in the manufacturing sector. The company's commitment to shareholder returns is evidenced by its impressive track record of raising its dividend for 11 consecutive years, a streak that's further bolstered by its 32-year history of maintained dividend payments.
InvestingPro Data also highlights UFPI's solid financial standing, with a dividend yield of 1.1% and a notable 47.06% one-year price total return, as of the latest available data. This performance is underpinned by the company's ability to generate robust cash flows, which can sufficiently cover interest payments and support its liquid assets well above short-term obligations. Moreover, UFPI's profitability is not only predicted for this year but has been consistent over the last twelve months, showcasing the company's operational efficiency and market resilience.
For those looking to delve deeper into UFP Industries' financials and future earnings potential, InvestingPro offers additional insights. There are more InvestingPro Tips available to help investors make informed decisions, including analysis on earnings revisions and asset returns. To access these valuable tips and more, visit InvestingPro's dedicated UFPI page at https://www.investing.com/pro/UFPI. Don't forget to use the coupon code PRONEWS24 to get an extra 10% off on a yearly or biyearly Pro and Pro+ subscription, providing a comprehensive toolkit for those seeking to enhance their investment strategy.
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