UFP Industries (NASDAQ:UFPI) Issues Quarterly Earnings Results

UFP Industries (NASDAQ:UFPI) posted its earnings results on Wednesday. The construction company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26), FiscalAI reports. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.52 billion.

UFP Industries Stock Down 2.9%

NASDAQ UFPI traded down $2.81 on Wednesday, hitting $92.94. The stock had a trading volume of 473,330 shares, compared to its average volume of 374,594. The business’s fifty day moving average price is $95.40 and its 200 day moving average price is $96.33. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 18.63 and a beta of 1.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.59 and a quick ratio of 3.13. UFP Industries has a 52-week low of $84.82 and a 52-week high of $118.00.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.5%. UFP Industries’s payout ratio is presently 28.86%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on UFPI shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. BMO Capital Markets restated a “market perform” rating and set a $108.00 target price (down from $112.00) on shares of UFP Industries in a report on Monday, April 20th. Finally, DA Davidson dropped their target price on UFP Industries from $112.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.00.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UFPI. Vanguard Personalized Indexing Management LLC raised its stake in shares of UFP Industries by 11.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 7,268 shares of the construction company’s stock valued at $662,000 after buying an additional 738 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of UFP Industries by 15.4% in the fourth quarter. Quadrant Capital Group LLC now owns 6,070 shares of the construction company’s stock worth $553,000 after buying an additional 809 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in shares of UFP Industries by 2.1% in the fourth quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company’s stock worth $423,000 after buying an additional 97 shares during the last quarter. Bank of Nova Scotia acquired a new stake in UFP Industries during the fourth quarter worth about $396,000. Finally, Inceptionr LLC acquired a new stake in UFP Industries during the fourth quarter worth about $361,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

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.