UFP Industries, Inc. Plans Quarterly Dividend of $0.33 (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Investors of record on Monday, December 2nd will be given a dividend of 0.33 per share by the construction company on Monday, December 16th. This represents a $1.32 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, December 2nd.

UFP Industries has raised its dividend payment by an average of 30.1% annually over the last three years. UFP Industries has a dividend payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect UFP Industries to earn $7.42 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 17.8%.

UFP Industries Trading Up 0.5 %

NASDAQ:UFPI opened at $135.90 on Friday. The firm has a fifty day simple moving average of $131.57 and a 200-day simple moving average of $122.94. The company has a market capitalization of $8.25 billion, a P/E ratio of 18.69 and a beta of 1.39. UFP Industries has a 12 month low of $107.49 and a 12 month high of $141.33. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the business posted $2.10 earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that UFP Industries will post 6.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, UFP Industries has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Insider Activity at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. The trade was a 4.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.58% of the stock is currently owned by corporate insiders.

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.