UFP Industries, Inc. (NASDAQ:UFPI) Increases Dividend to $0.36 Per Share

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Thursday, February 12th. Investors of record on Monday, March 2nd will be paid a dividend of 0.36 per share by the construction company on Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, March 2nd. This is a 2.9% increase from UFP Industries’s previous quarterly dividend of $0.35.

UFP Industries has raised its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. UFP Industries has a payout ratio of 21.1% 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 $1.44 annual dividend with an expected future payout ratio of 18.3%.

UFP Industries Stock Performance

UFPI traded down $2.13 on Friday, hitting $102.91. The company had a trading volume of 389,481 shares, compared to its average volume of 359,233. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 20.62 and a beta of 1.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.59 and a quick ratio of 3.23. The company’s fifty day moving average price is $103.81 and its 200 day moving average price is $97.85. UFP Industries has a 1-year low of $87.11 and a 1-year high of $118.00.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, February 23rd. The construction company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. Equities analysts predict that UFP Industries will post 7.08 earnings per share for the current fiscal year.

Insider Transactions at UFP Industries

In related news, Chairman Matthew J. Missad sold 11,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the transaction, the chairman directly owned 310,533 shares in the company, valued at $28,649,774.58. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its holdings in UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after purchasing an additional 114 shares in the last quarter. Signaturefd LLC lifted its position in shares of UFP Industries by 66.1% during the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock worth $35,000 after buying an additional 154 shares during the period. Danske Bank A S boosted its stake in UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. IFP Advisors Inc grew its position in UFP Industries by 84.8% in the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after acquiring an additional 190 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in UFP Industries by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock valued at $38,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.