UFP Industries (NASDAQ:UFPI) Announces Quarterly Earnings Results

UFP Industries (NASDAQ:UFPI) released its earnings results on Monday. The construction company reported $0.70 earnings per share 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 company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.40 billion.

UFP Industries Stock Performance

NASDAQ UFPI traded down $3.45 during trading on Monday, reaching $106.32. 390,969 shares of the company’s stock were exchanged, compared to its average volume of 370,776. The stock has a market capitalization of $6.19 billion, a P/E ratio of 19.65 and a beta of 1.49. The business has a 50 day moving average price of $102.59 and a 200-day moving average price of $97.59. UFP Industries has a fifty-two week low of $87.11 and a fifty-two week high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 3.23.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.36 dividend. This is a boost from UFP Industries’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd. UFP Industries’s dividend payout ratio (DPR) is 25.88%.

Insider Activity

In other news, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the sale, the director directly owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Matthew J. Missad sold 11,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $92.26, for a total value of $1,014,860.00. Following the transaction, the chairman owned 310,533 shares of the company’s stock, valued at $28,649,774.58. This trade represents a 3.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.56% of the stock is owned by insiders.

Institutional Trading of UFP Industries

Several hedge funds have recently bought and sold shares of UFPI. Commonwealth Equity Services LLC boosted its stake in shares of UFP Industries by 3.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company’s stock worth $291,000 after buying an additional 92 shares during the last quarter. Arkadios Wealth Advisors grew its stake in UFP Industries by 2.1% in the 4th quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company’s stock valued at $423,000 after buying an additional 97 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings 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 purchasing an additional 114 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of UFP Industries by 1.3% in the fourth quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company’s stock valued at $832,000 after acquiring an additional 114 shares during the period. Finally, Captrust Financial Advisors increased its holdings in shares of UFP Industries by 4.1% in the fourth quarter. Captrust Financial Advisors now owns 4,346 shares of the construction company’s stock worth $396,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

UFPI has been the subject of several research analyst reports. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $112.00 in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. Finally, Stifel Nicolaus set a $98.00 target price on shares of UFP Industries in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $107.33.

About UFP Industries

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.