UFP Industries, Inc. (NASDAQ:UFPI) Declares $0.36 Quarterly Dividend

UFP Industries, Inc. (NASDAQ:UFPI) announced a quarterly dividend on Wednesday, April 22nd. Shareholders of record on Monday, June 1st will be paid a dividend of 0.36 per share by the construction company on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, June 1st.

UFP Industries has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 5 years. UFP Industries has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect UFP Industries to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 24.4%.

UFP Industries Price Performance

Shares of UFPI stock traded down $1.49 during trading hours on Friday, reaching $94.99. The company’s stock had a trading volume of 120,691 shares, compared to its average volume of 370,151. The firm’s 50 day simple moving average is $96.49 and its 200-day simple moving average is $96.14. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 19.04 and a beta of 1.44. UFP Industries has a fifty-two week low of $84.82 and a fifty-two week high of $118.00. The company has a quick ratio of 3.13, a current ratio of 4.59 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 EPS. Sell-side analysts forecast that UFP Industries will post 5.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. DA Davidson reduced their target price on UFP Industries from $112.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $108.00 price objective (down from $112.00) on shares of UFP Industries in a report on Monday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, UFP Industries has a consensus rating of “Hold” and a consensus price target of $107.00.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.