UFP Industries (NASDAQ:UFPI) Releases Quarterly Earnings Results, Beats Expectations By $0.34 EPS

UFP Industries (NASDAQ:UFPI) issued its earnings results on Tuesday. The construction company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.62 by $0.34, Briefing.com reports. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. UFP Industries’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 earnings per share.

UFP Industries Stock Down 0.6 %

NASDAQ UFPI traded down $0.67 during trading on Wednesday, hitting $112.03. 48,047 shares of the company traded hands, compared to its average volume of 281,108. UFP Industries has a 12 month low of $76.89 and a 12 month high of $128.65. The business has a fifty day simple moving average of $115.66 and a 200 day simple moving average of $113.67. The company has a current ratio of 4.41, a quick ratio of 3.12 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $6.89 billion, a P/E ratio of 13.80 and a beta of 1.49.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.32 annualized dividend and a yield of 1.18%. UFP Industries’s dividend payout ratio (DPR) is currently 16.38%.

Insider Buying and Selling at UFP Industries

In other news, CEO Matthew J. Missad sold 5,018 shares of UFP Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total value of $572,302.90. Following the transaction, the chief executive officer now directly owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UFPI. StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Benchmark reduced their price objective on UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday. Stifel Nicolaus lifted their price objective on UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Wedbush reissued a “neutral” rating and set a $102.00 price objective on shares of UFP Industries in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.20.

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.