UFP Industries (NASDAQ:UFPI) Posts Earnings Results, Misses Estimates By $0.04 EPS

UFP Industries (NASDAQ:UFPI) issued its earnings results on Monday. The construction company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion.

UFP Industries Stock Performance

NASDAQ:UFPI traded down $2.37 during mid-day trading on Wednesday, hitting $112.09. The stock had a trading volume of 32,751 shares, compared to its average volume of 276,904. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 15.46 and a beta of 1.45. The company has a 50 day simple moving average of $115.84 and a 200-day simple moving average of $123.25. 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.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.25%. UFP Industries’s payout ratio is 18.16%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com raised shares of UFP Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wedbush reissued an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. Finally, Benchmark reissued a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

Insider Activity at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction dated 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 directly owns 314,450 shares in the company, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William G. Currie sold 5,700 shares of the business’s stock in a transaction dated 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 owns 61,140 shares in the company, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by insiders.

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.