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

UFP Industries (NASDAQ:UFPI) issued its quarterly earnings data on Monday. The construction company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04), Zacks reports. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%.

UFP Industries Price Performance

Shares of NASDAQ UFPI traded down $2.04 during midday trading on Wednesday, reaching $112.42. The stock had a trading volume of 94,969 shares, compared to its average volume of 278,710. The stock has a 50-day moving average of $115.84 and a 200-day moving average of $123.25. 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 company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 15.46 and a beta of 1.45. UFP Industries has a 12-month low of $107.25 and a 12-month high of $141.33.

UFP Industries Increases Dividend

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

Analyst Ratings Changes

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

Insider Transactions at UFP Industries

In other news, Director William G. Currie sold 5,700 shares of the stock in a transaction on Friday, December 13th. The shares were 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 directly owns 61,140 shares of the company’s stock, valued at $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.