UFP Industries (NASDAQ:UFPI) Issues Quarterly Earnings Results

UFP Industries (NASDAQ:UFPI) posted its quarterly earnings results on Monday. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.25), Briefing.com reports. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the company posted $2.10 earnings per share. UFP Industries’s revenue for the quarter was down 9.8% compared to the same quarter last year.

UFP Industries Price Performance

Shares of UFPI traded down $0.65 during mid-day trading on Wednesday, hitting $122.39. 384,312 shares of the company were exchanged, compared to its average volume of 281,282. UFP Industries has a 1-year low of $90.62 and a 1-year high of $139.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. The company has a 50 day moving average of $126.83 and a 200-day moving average of $120.53. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 15.22 and a beta of 1.39.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.08%. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets upped their price target on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Benchmark upped their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus upped their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $120.00 to $155.00 in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $139.60.

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.