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

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends 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 annualized dividend and a dividend yield of 0.97%. The ex-dividend date 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 payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 stock’s 50 day moving average is $131.68 and its 200 day moving average is $123.06. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $8.25 billion, a PE ratio of 18.69 and a beta of 1.39. UFP Industries has a twelve month low of $107.49 and a twelve month high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its 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). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company earned $2.10 earnings per share. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Research analysts forecast that UFP Industries will post 6.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research report on Monday, November 4th. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Insider Activity

In related news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the sale, the chief executive officer now directly owns 314,450 shares in the company, valued at approximately $41,202,383.50. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.58% of the company’s stock.

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.