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

UFP Industries (NASDAQ:UFPI) issued its quarterly earnings results on Monday. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.04), Zacks reports. The firm had revenue of $1.46 billion for 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 Stock Down 1.5 %

UFPI traded down $1.72 during trading on Wednesday, reaching $112.73. 59,022 shares of the stock traded hands, compared to its average volume of 277,420. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 15.43 and a beta of 1.45. UFP Industries has a fifty-two week low of $107.25 and a fifty-two week high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The stock’s 50-day simple moving average is $115.84 and its two-hundred day simple 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 given a dividend of $0.35 per share. This is a boost 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 dividend on an annualized basis and a yield of 1.24%. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. 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. StockNews.com raised UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $135.00 target price on shares of UFP Industries in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction 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 completion of the sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction on Friday, December 13th. The shares were sold at an average price of $126.59, for a total value of $721,563.00. Following the sale, the director now directly owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.58% of the company’s stock.

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.