UFP Industries, Inc. (UFPI) To Go Ex-Dividend on March 3rd

UFP Industries, Inc. (NASDAQ:UFPI) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Investors 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 dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33.

UFP Industries has raised its dividend by an average of 26.6% annually over the last three years. UFP Industries has a dividend payout ratio of 16.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect UFP Industries to earn $7.99 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 16.5%.

UFP Industries Price Performance

Shares of UFPI stock opened at $112.89 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The stock has a 50 day moving average price of $115.46 and a 200 day moving average price of $123.18. The firm has a market capitalization of $6.85 billion, a P/E ratio of 16.68 and a beta of 1.45. UFP Industries has a 52-week low of $107.25 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued 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). UFP Industries had a return on equity of 13.35% and a net margin of 6.23%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. As a group, sell-side analysts predict that UFP Industries will post 7.42 earnings per share for the current year.

Insider Activity

In other news, CEO Matthew J. Missad sold 15,000 shares of the company’s 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 sale, the chief executive officer now owns 314,450 shares in the company, valued at $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Currie sold 5,700 shares of the company’s 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 completion of the sale, the director now owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UFPI. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. Benchmark reissued a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday. Finally, StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

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.