UFP Industries (NASDAQ:UFPI) Issues Earnings Results, Beats Estimates By $0.11 EPS

UFP Industries (NASDAQ:UFPI) issued its earnings results on Wednesday. The construction company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11, Zacks reports. UFP Industries had a return on equity of 7.96% and a net margin of 3.99%.The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.79 billion.

UFP Industries Price Performance

Shares of UFP Industries stock traded up $0.61 during trading hours on Friday, reaching $86.79. The stock had a trading volume of 17,362 shares, compared to its average volume of 438,283. The stock’s 50 day moving average is $85.23 and its 200 day moving average is $93.02. The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07. UFP Industries has a twelve month low of $77.89 and a twelve month high of $118.00. The firm has a market capitalization of $4.90 billion, a PE ratio of 19.90 and a beta of 1.22.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.36 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.7%. UFP Industries’s dividend payout ratio is 31.44%.

Analysts Set New Price Targets

UFPI has been the topic of several recent research reports. Benchmark dropped their price objective on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price for the company in a report on Tuesday, May 5th. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. DA Davidson lowered their price target on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Stifel Nicolaus reduced their price objective on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, UFP Industries presently has a consensus rating of “Hold” and an average price target of $103.75.

Institutional Trading of UFP Industries

Institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its stake in shares of UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after buying an additional 114 shares during the period. CIBC Private Wealth Group LLC increased its holdings in UFP Industries by 117.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock worth $38,000 after acquiring an additional 223 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in UFP Industries by 648.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock worth $41,000 after acquiring an additional 376 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in UFP Industries by 90.9% during the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after acquiring an additional 259 shares during the period. Finally, UMB Bank n.a. raised its position in UFP Industries by 244.0% during the fourth quarter. UMB Bank n.a. now owns 664 shares of the construction company’s stock worth $60,000 after acquiring an additional 471 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.