Zacks: Brokerages Anticipate UFP Industries, Inc. (NASDAQ:UFPI) to Announce $0.90 EPS


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Wall Street brokerages expect UFP Industries, Inc. (NASDAQ:UFPI) to report $0.90 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for UFP Industries’ earnings, with estimates ranging from $0.83 to $0.98. UFP Industries reported earnings per share of $0.65 during the same quarter last year, which would indicate a positive year over year growth rate of 38.5%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, April 21st.

According to Zacks, analysts expect that UFP Industries will report full year earnings of $4.73 per share for the current financial year, with EPS estimates ranging from $4.66 to $4.81. For the next year, analysts anticipate that the business will report earnings of $5.41 per share, with EPS estimates ranging from $5.15 to $5.69. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow UFP Industries.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Wednesday, February 24th. The construction company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.21. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.20 billion. UFP Industries had a net margin of 4.66% and a return on equity of 16.77%.

A number of research analysts recently commented on the stock. DA Davidson increased their target price on shares of UFP Industries from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 22nd. Zacks Investment Research upgraded shares of UFP Industries from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, March 2nd. Stifel Nicolaus assumed coverage on shares of UFP Industries in a research report on Tuesday, March 9th. They set a “buy” rating and a $75.00 target price for the company. Wedbush lifted their target price on shares of UFP Industries from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, BMO Capital Markets lifted their price target on shares of UFP Industries from $57.00 to $66.00 in a report on Wednesday, March 3rd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. UFP Industries currently has a consensus rating of “Buy” and an average target price of $72.50.

Shares of NASDAQ UFPI traded up $1.50 during mid-day trading on Friday, reaching $81.06. The company had a trading volume of 476,862 shares, compared to its average volume of 357,406. The company has a current ratio of 3.06, a quick ratio of 1.99 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $71.37 and a two-hundred day simple moving average of $59.99. The stock has a market cap of $5.01 billion, a P/E ratio of 22.58 and a beta of 1.42. UFP Industries has a 52-week low of $33.79 and a 52-week high of $81.51.

The company also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were given a dividend of $0.15 per share. This is a boost from UFP Industries’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, February 26th. UFP Industries’s payout ratio is presently 20.62%.

In related news, CEO Matthew J. Missad sold 7,250 shares of the company’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $70.96, for a total value of $514,460.00. Following the sale, the chief executive officer now directly owns 294,479 shares of the company’s stock, valued at $20,896,229.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Missad sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $67.61, for a total transaction of $1,352,200.00. Following the completion of the sale, the chief executive officer now directly owns 301,729 shares in the company, valued at $20,399,897.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,772 shares of company stock worth $4,457,698. Corporate insiders own 3.03% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Watchman Group Inc. increased its stake in UFP Industries by 0.5% during the fourth quarter. Watchman Group Inc. now owns 47,485 shares of the construction company’s stock valued at $2,638,000 after purchasing an additional 230 shares during the last quarter. Optimum Investment Advisors increased its stake in UFP Industries by 12.6% during the fourth quarter. Optimum Investment Advisors now owns 2,145 shares of the construction company’s stock valued at $119,000 after purchasing an additional 240 shares during the last quarter. Jennison Associates LLC increased its stake in UFP Industries by 1.3% during the fourth quarter. Jennison Associates LLC now owns 25,385 shares of the construction company’s stock valued at $1,410,000 after purchasing an additional 316 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of UFP Industries by 26.1% during the third quarter. Advisors Asset Management Inc. now owns 1,631 shares of the construction company’s stock worth $92,000 after acquiring an additional 338 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its position in shares of UFP Industries by 3.8% during the fourth quarter. Kestra Advisory Services LLC now owns 10,812 shares of the construction company’s stock worth $612,000 after acquiring an additional 393 shares during the last quarter. 79.40% of the stock is currently owned by hedge funds and other institutional investors.

About UFP Industries

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

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