UFP Industries, Inc. (UFPI) to Issue Quarterly Dividend of $0.35 on March 17th

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 0.35 per share by the construction company on Monday, March 17th. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, March 3rd. This is a boost from UFP Industries’s previous quarterly dividend of $0.33.

UFP Industries has increased its dividend payment by an average of 26.6% per year over the last three years. UFP Industries has a payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect UFP Industries to earn $7.87 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 17.8%.

UFP Industries Stock Up 0.3 %

Shares of UFPI opened at $107.00 on Friday. UFP Industries has a 52 week low of $105.29 and a 52 week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 15.81 and a beta of 1.45. The business’s fifty day moving average price is $113.85 and its two-hundred day moving average price is $122.75.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. On average, analysts predict that UFP Industries will post 7.08 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Benchmark restated a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. Wedbush reissued an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a report on Monday, November 4th. Finally, StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, UFP Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

Insiders Place Their Bets

In other UFP Industries news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the sale, the director now owns 61,140 shares of the company’s stock, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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.