UFP Industries (NASDAQ:UFPI) Issues Earnings Results

UFP Industries (NASDAQ:UFPI) issued its quarterly earnings results on Tuesday. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02, Briefing.com reports. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the firm earned $2.36 EPS.

UFP Industries Stock Performance

UFPI traded down $4.43 during trading hours on Thursday, hitting $127.50. The stock had a trading volume of 157,905 shares, compared to its average volume of 289,223. The stock has a market cap of $7.87 billion, a PE ratio of 15.78 and a beta of 1.40. UFP Industries has a 1 year low of $90.62 and a 1 year high of $136.93. The company has a quick ratio of 3.37, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $116.97 and its 200 day simple moving average is $116.51.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 1.04%. UFP Industries’s payout ratio is 16.42%.

Analyst Ratings Changes

A number of research analysts recently issued reports on UFPI shares. Stifel Nicolaus lifted their target price on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush reiterated a “neutral” rating and set a $120.00 price target (up from $102.00) on shares of UFP Industries in a report on Tuesday. Benchmark lifted their target price on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Finally, BMO Capital Markets increased their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.60.

Insiders Place Their Bets

In related news, insider Patrick M. Benton sold 11,725 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the sale, the insider now directly owns 97,729 shares in the company, valued at approximately $11,265,221.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider David A. Tutas sold 3,038 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $120.21, for a total transaction of $365,197.98. Following the completion of the transaction, the insider now directly owns 21,374 shares in the company, valued at approximately $2,569,368.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Patrick M. Benton sold 11,725 shares of UFP Industries stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the transaction, the insider now directly owns 97,729 shares of the company’s stock, valued at $11,265,221.83. The disclosure for this sale can be found here. Insiders sold 32,687 shares of company stock worth $3,831,653 over the last quarter. 2.58% of the stock is currently owned by company insiders.

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.