UFP Industries, Inc. (NASDAQ:UFPI) Shareholders to Collect $0.36 Quarterly Dividend

by · The Cerbat Gem

UFP Industries, Inc. (NASDAQ:UFPI – Get Free Report) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.36 per share by the construction company on Tuesday, December 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, December 1st.

UFP Industries has increased its dividend by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. UFP Industries has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect UFP Industries to earn $5.41 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 26.6%.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $83.72 on Friday. The stock’s fifty day simple moving average is $81.64 and its 200 day simple moving average is $85.37. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 19.20 and a beta of 1.22. The company has a quick ratio of 2.64, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. UFP Industries has a 52-week low of $73.72 and a 52-week high of $118.00.

UFP Industries (NASDAQ:UFPI – Get Free Report) last announced its earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.37 by $0.11. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. As a group, sell-side analysts forecast that UFP Industries will post 4.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stifel Nicolaus set a $90.00 price objective on UFP Industries and gave the stock a “hold” rating in a report on Monday, August 24th. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Oppenheimer began coverage on shares of UFP Industries in a report on Wednesday, September 30th. They issued a “market perform” rating for the company. Finally, Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, October 12th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $104.50.

Read Our Latest Analysis on UFP Industries

About UFP Industries

(Get Free Report)

UFP Industries, Inc is a diversified manufacturer and distributor of wood, composite and other products serving the retail, construction and industrial markets. The company supplies materials and components used in outdoor living, residential and commercial construction, manufactured housing, packaging and a range of industrial applications.

Its products include treated lumber, decking, fencing, landscaping products, roof trusses, wall panels, wood components, pallets, crates, specialty packaging and other custom-engineered products.

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