UFP Industries (NASDAQ:UFPI) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

UFP Industries (NASDAQ:UFPI) posted its quarterly earnings results 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 business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations 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

NASDAQ UFPI traded down $1.88 during trading hours on Wednesday, reaching $112.58. The company’s stock had a trading volume of 70,833 shares, compared to its average volume of 278,058. 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’s 50-day moving average is $115.84 and its two-hundred day moving average is $123.25. UFP Industries has a fifty-two week low of $107.25 and a fifty-two week high of $141.33. The stock has a market cap of $6.84 billion, a PE ratio of 15.49 and a beta of 1.45.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s payout ratio is 18.16%.

Wall Street Analyst Weigh In

UFPI has been the topic of several research analyst reports. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reissued an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. Finally, Benchmark restated a “buy” rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

Insiders Place Their Bets

In other news, Director William G. Currie sold 5,700 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the transaction, the director now directly owns 61,140 shares of the company’s stock, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their position. 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 company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the sale, the chief executive officer now directly owns 314,450 shares in the company, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. 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.