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

UFP Industries, Inc. (NASDAQ:UFPI) announced a quarterly dividend on Wednesday, July 22nd. Investors of record on Tuesday, September 1st will be given a dividend of 0.36 per share by the construction company on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st.

UFP Industries has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. UFP Industries has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Analysts expect UFP Industries to earn $5.35 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 26.9%.

UFP Industries Trading Down 1.3%

Shares of UFP Industries stock traded down $1.10 during trading on Thursday, hitting $85.60. The stock had a trading volume of 209,933 shares, compared to its average volume of 434,596. The stock has a 50 day simple moving average of $84.38 and a 200 day simple moving average of $93.36. The company has a market capitalization of $4.83 billion, a PE ratio of 18.69 and a beta of 1.22. UFP Industries has a 1 year low of $77.89 and a 1 year high of $118.00. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.26). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. UFP Industries’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 EPS. On average, research analysts expect that UFP Industries will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of UFP Industries by 3.0% in the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock worth $6,597,000 after acquiring an additional 1,798 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in UFP Industries by 8.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after purchasing an additional 221 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in UFP Industries by 10.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock valued at $13,831,000 after acquiring an additional 12,043 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of UFP Industries by 90.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after acquiring an additional 259 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of UFP Industries during the 2nd quarter valued at approximately $232,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

About UFP Industries

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.