UFP Industries (NASDAQ:UFPI) Announces Earnings Results, Beats Expectations By $0.02 EPS

UFP Industries (NASDAQ:UFPI) announced its quarterly earnings data on Tuesday. The construction company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02, Briefing.com reports. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $2.36 EPS. UFP Industries’s quarterly revenue was down 6.9% on a year-over-year basis.

UFP Industries Stock Performance

UFPI stock traded down $4.43 during midday trading on Thursday, hitting $127.50. The stock had a trading volume of 157,905 shares, compared to its average volume of 289,223. UFP Industries has a 52 week low of $90.62 and a 52 week high of $136.93. The company has a current ratio of 4.34, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. The stock has a 50-day simple moving average of $116.97 and a 200 day simple moving average of $116.51. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 15.78 and a beta of 1.40.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, August 30th. UFP Industries’s dividend payout ratio is presently 16.42%.

Insider Buying and Selling at UFP Industries

In other news, Director Bruce A. Merino sold 16,472 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the completion of the transaction, the director now directly owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Michael R. Cole sold 1,452 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $119.28, for a total transaction of $173,194.56. Following the completion of the sale, the chief financial officer now owns 165,155 shares in the company, valued at approximately $19,699,688.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce A. Merino sold 16,472 shares of UFP Industries stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the transaction, the director now directly owns 7,107 shares in the company, valued at $837,773.16. The disclosure for this sale can be found here. Insiders have sold 32,687 shares of company stock valued at $3,831,653 in the last 90 days. 2.58% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BMO Capital Markets increased their target price on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Stifel Nicolaus boosted their price target on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush reissued a “neutral” rating and issued a $120.00 target price (up from $102.00) on shares of UFP Industries in a research report on Tuesday. Finally, Benchmark raised their price target on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and an average target price of $132.60.

UFP Industries Company Profile

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.