UFP Industries (NASDAQ:UFPI) Issues Earnings Results

UFP Industries (NASDAQ:UFPI) issued its quarterly earnings data on Tuesday. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34, Briefing.com reports. UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm posted $1.98 EPS. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year.

UFP Industries Stock Performance

Shares of UFPI stock traded down $1.12 during trading on Wednesday, reaching $111.58. 52,365 shares of the company’s stock traded hands, compared to its average volume of 281,252. The company has a market capitalization of $6.87 billion, a P/E ratio of 13.80 and a beta of 1.49. The company has a current ratio of 4.41, a quick ratio of 3.12 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average is $115.66 and its 200 day moving average is $113.67. UFP Industries has a 1 year low of $76.89 and a 1 year high of $128.65.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Monday, June 3rd. UFP Industries’s payout ratio is currently 16.38%.

Analyst Ratings Changes

UFPI has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Benchmark dropped their target price on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Finally, Wedbush restated a “neutral” rating and set a $102.00 price target on shares of UFP Industries in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.20.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the sale, the chief executive officer now directly owns 363,328 shares in the company, valued at approximately $41,437,558.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.58% of the company’s stock.

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.