UFP Industries (NASDAQ:UFPI) Announces Quarterly Earnings Results

UFP Industries (NASDAQ:UFPI) posted its earnings results on Monday. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04), Zacks reports. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion.

UFP Industries Stock Performance

UFPI traded down $1.72 on Wednesday, hitting $112.73. 59,022 shares of the stock traded hands, compared to its average volume of 277,420. UFP Industries has a 52 week low of $107.25 and a 52 week 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. The firm has a market capitalization of $6.84 billion, a PE ratio of 15.43 and a beta of 1.45. The business has a fifty day moving average price of $115.84 and a two-hundred day moving average price of $123.25.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.24%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, March 3rd. UFP Industries’s payout ratio is currently 18.16%.

Insider Activity at UFP Industries

In other UFP Industries news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the sale, the director now directly owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the sale, the chief executive officer now directly owns 314,450 shares in the company, valued at $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on UFPI. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. Finally, StockNews.com upgraded UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.00.

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.