UFP Industries (NASDAQ:UFPI) Posts Earnings Results

UFP Industries (NASDAQ:UFPI) announced its earnings results on Tuesday. The construction company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.62 by $0.34, Briefing.com reports. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm posted $1.98 EPS. The business’s quarterly revenue was down 10.1% on a year-over-year basis.

UFP Industries Trading Down 0.4 %

Shares of NASDAQ UFPI traded down $0.42 during mid-day trading on Thursday, hitting $112.58. The company’s stock had a trading volume of 12,054 shares, compared to its average volume of 280,684. The company’s fifty day simple moving average is $115.71 and its 200-day simple moving average is $113.67. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 14.05 and a beta of 1.47. UFP Industries has a one year low of $77.47 and a one year high of $128.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.12.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.33 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 1.17%. UFP Industries’s payout ratio is 16.42%.

Insider Activity

In other news, CEO Matthew J. Missad sold 5,018 shares of the company’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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UFPI. Stifel Nicolaus raised their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Wedbush reaffirmed a “neutral” rating and set a $102.00 price objective on shares of UFP Industries in a report on Thursday, February 22nd. Benchmark dropped their target price on UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday. Finally, StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.20.

About UFP Industries

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.