UFP Industries (NASDAQ:UFPI) Issues Earnings Results

UFP Industries (NASDAQ:UFPI) issued its quarterly earnings data on Monday. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25), Briefing.com reports. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company earned $2.10 earnings per share. The business’s quarterly revenue was down 9.8% compared to the same quarter last year.

UFP Industries Stock Performance

Shares of NASDAQ UFPI traded down $0.79 during mid-day trading on Thursday, hitting $121.60. The company had a trading volume of 19,978 shares, compared to its average volume of 280,018. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 15.22 and a beta of 1.39. UFP Industries has a 1 year low of $90.62 and a 1 year high of $139.54. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average price is $126.83 and its 200-day moving average price is $120.53.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s dividend payout ratio is currently 16.42%.

Wall Street Analysts Forecast Growth

UFPI has been the subject of several recent analyst reports. Benchmark upped their price objective on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wedbush raised UFP Industries from a “neutral” rating to an “outperform” rating and increased their price target for the company from $120.00 to $155.00 in a research note on Tuesday, October 8th. Stifel Nicolaus increased their price target on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets increased their price target on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $139.60.

UFP Industries Company Profile

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.