UFP Industries (NASDAQ:UFPI) Releases Quarterly Earnings Results, Beats Estimates By $0.79 EPS


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UFP Industries (NASDAQ:UFPI) released its earnings results on Tuesday. The construction company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.79, Briefing.com reports. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.46 billion. UFP Industries had a net margin of 4.66% and a return on equity of 16.77%. UFP Industries’s revenue was up 76.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS.

Shares of UFP Industries stock traded up $1.20 on Thursday, hitting $79.48. The company’s stock had a trading volume of 8,613 shares, compared to its average volume of 357,014. UFP Industries has a 52-week low of $33.79 and a 52-week high of $81.90. The company has a quick ratio of 1.99, a current ratio of 3.06 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average price of $73.26 and a 200-day moving average price of $60.59. The company has a market capitalization of $4.91 billion, a P/E ratio of 22.14 and a beta of 1.42.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.75%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 26th. UFP Industries’s dividend payout ratio (DPR) is 20.62%.

Several analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of UFP Industries from $57.00 to $66.00 in a report on Wednesday, March 3rd. Wedbush increased their target price on shares of UFP Industries from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday. Zacks Investment Research upgraded shares of UFP Industries from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research report on Tuesday, March 2nd. 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. Finally, Stifel Nicolaus assumed coverage on shares of UFP Industries in a research report on Tuesday, March 9th. They issued a “buy” rating and a $75.00 target price for the company. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $79.33.

In related news, COO Patrick M. Webster sold 30,000 shares of the business’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chief operating officer now owns 217,948 shares of the company’s stock, valued at approximately $13,464,827.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew J. Missad sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 301,729 shares of the company’s stock, valued at approximately $20,399,897.69. The disclosure for this sale can be found here. Insiders sold a total of 68,772 shares of company stock valued at $4,457,698 in the last three months. 3.03% of the stock is currently owned by corporate insiders.

UFP Industries Company Profile

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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Earnings History for UFP Industries (NASDAQ:UFPI)

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