UFP Industries, Inc. (UFPI) To Go Ex-Dividend on December 2nd

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.33 per share by the construction company on Monday, December 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, December 2nd.

UFP Industries has increased its dividend by an average of 30.1% per year over the last three years. UFP Industries has a dividend payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Analysts expect UFP Industries to earn $7.83 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 16.9%.

UFP Industries Stock Up 1.2 %

UFPI stock traded up $1.53 during midday trading on Wednesday, reaching $124.57. 39,144 shares of the company’s stock traded hands, compared to its average volume of 279,638. UFP Industries has a 52 week low of $90.62 and a 52 week high of $139.54. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 15.30 and a beta of 1.39. The firm’s fifty day moving average price is $126.83 and its 200-day moving average price is $120.53. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. UFP Industries’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the firm posted $2.10 earnings per share. As a group, sell-side analysts forecast that UFP Industries will post 7.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on UFPI shares. BMO Capital Markets lifted their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their target price on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $120.00 to $155.00 in a report on Tuesday, October 8th. Finally, Benchmark upped their target price on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.60.

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.