Q1 2024 EPS Estimates for UFP Industries, Inc. Lifted by Zacks Research (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – Equities researchers at Zacks Research boosted their Q1 2024 earnings estimates for shares of UFP Industries in a report issued on Tuesday, April 16th. Zacks Research analyst A. Gupta now forecasts that the construction company will earn $1.59 per share for the quarter, up from their prior forecast of $1.56. The consensus estimate for UFP Industries’ current full-year earnings is $7.40 per share. Zacks Research also issued estimates for UFP Industries’ Q4 2024 earnings at $1.63 EPS, FY2024 earnings at $7.34 EPS, Q2 2025 earnings at $2.33 EPS, Q1 2026 earnings at $2.00 EPS and FY2026 earnings at $8.61 EPS.

A number of other research firms have also weighed in on UFPI. Stifel Nicolaus upped their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Benchmark raised their price objective on shares of UFP Industries from $120.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Wedbush reiterated a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a research note on Thursday, February 22nd. Finally, StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

UFP Industries Price Performance

UFPI stock opened at $111.79 on Thursday. The business’s 50-day moving average is $116.18 and its two-hundred day moving average is $112.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12. The firm has a market capitalization of $6.88 billion, a P/E ratio of 13.87 and a beta of 1.49. UFP Industries has a 1 year low of $76.01 and a 1 year high of $128.65.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.06). UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business posted $2.10 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis.

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.33 dividend. This is a boost from UFP Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.32 annualized dividend and a dividend yield of 1.18%. UFP Industries’s dividend payout ratio is presently 16.38%.

Insider Activity at UFP Industries

In other news, CEO Matthew J. Missad sold 5,018 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total value of $572,302.90. Following the completion of the sale, the chief executive officer now directly owns 363,328 shares of the company’s stock, valued at approximately $41,437,558.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On UFP Industries

A number of institutional investors have recently modified their holdings of UFPI. Kayne Anderson Rudnick Investment Management LLC increased its stake in UFP Industries by 716.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock valued at $159,876,000 after purchasing an additional 1,370,105 shares during the period. Norges Bank acquired a new position in UFP Industries in the 4th quarter valued at about $86,885,000. Wells Fargo & Company MN raised its stake in UFP Industries by 871.3% during the 4th quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock valued at $51,741,000 after acquiring an additional 369,687 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of UFP Industries by 25.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,714,394 shares of the construction company’s stock valued at $135,866,000 after purchasing an additional 348,158 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of UFP Industries by 93.0% in the third quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company’s stock valued at $69,544,000 after purchasing an additional 327,220 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

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.