UFP Industries (NASDAQ:UFPI) Issues Earnings Results

by · The Markets Daily

UFP Industries (NASDAQ:UFPI – Get Free Report) announced its earnings results on Monday. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.33), FiscalAI reports. UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.40 billion.

UFP Industries Trading Down 3.1%

UFPI traded down $3.45 on Monday, hitting $106.32. The company had a trading volume of 390,969 shares, compared to its average volume of 370,776. The company’s fifty day moving average price is $102.59 and its 200 day moving average price is $97.59. UFP Industries has a 1 year low of $87.11 and a 1 year high of $118.00. The company has a current ratio of 4.49, a quick ratio of 3.23 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.19 billion, a P/E ratio of 19.65 and a beta of 1.49.

UFP Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. UFP Industries’s dividend payout ratio is 25.88%.

Analyst Ratings Changes

A number of analysts have commented on UFPI shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $112.00 in a report on Friday, October 31st. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Stifel Nicolaus set a $98.00 price objective on UFP Industries in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $107.33.

Get Our Latest Stock Analysis on UFP Industries

Insider Transactions at UFP Industries

In other UFP Industries news, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the completion of the sale, the chairman directly owned 310,533 shares in the company, valued at $28,649,774.58. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael G. Wooldridge sold 1,192 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the transaction, the director owned 14,697 shares in the company, valued at approximately $1,373,140.71. This represents a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its position in 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 acquiring an additional 114 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of UFP Industries by 117.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock worth $38,000 after purchasing an additional 223 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UFP Industries by 648.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock worth $41,000 after purchasing an additional 376 shares during the period. EverSource Wealth Advisors LLC grew its position in UFP Industries by 90.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock valued at $54,000 after buying an additional 259 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in UFP Industries by 244.0% in the 4th quarter. UMB Bank n.a. now owns 664 shares of the construction company’s stock valued at $60,000 after buying an additional 471 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

About UFP Industries

(Get Free Report)

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.

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