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

UFP Industries (NASDAQ:UFPI) released its quarterly earnings results on Monday. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04), Zacks reports. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%.

UFP Industries Trading Down 2.1 %

Shares of UFPI traded down $2.37 on Wednesday, hitting $112.09. 32,751 shares of the stock traded hands, compared to its average volume of 276,904. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.81 billion, a P/E ratio of 15.46 and a beta of 1.45. UFP Industries has a 1 year low of $107.25 and a 1 year high of $141.33. The stock’s 50 day moving average is $115.84 and its two-hundred day moving average is $123.25.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.35 per share. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.25%. UFP Industries’s dividend payout ratio is presently 18.16%.

Insiders Place Their Bets

In other UFP Industries news, Director William G. Currie sold 5,700 shares of the 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 transaction, the director now owns 61,140 shares of the company’s stock, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the transaction, the chief executive officer now directly owns 314,450 shares in the company, valued at approximately $41,202,383.50. This represents 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 insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Benchmark reiterated a “buy” rating and issued a $135.00 price target on shares of UFP Industries in a research report on Wednesday. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Wedbush reissued an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.00.

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.