Q3 2024 EPS Estimates for UFP Industries, Inc. (NASDAQ:UFPI) Cut by Analyst

UFP Industries, Inc. (NASDAQ:UFPI - Free Report) - Stock analysts at Zacks Research lowered their Q3 2024 earnings estimates for UFP Industries in a report issued on Tuesday, April 16th. Zacks Research analyst A. Gupta now anticipates that the construction company will post earnings per share of $2.00 for the quarter, down from their prior forecast of $2.01. The consensus estimate for UFP Industries' current full-year earnings is $7.39 per share. Zacks Research also issued estimates for UFP Industries' Q1 2025 earnings at $1.82 EPS, Q3 2025 earnings at $2.16 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $8.10 EPS.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.06). UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The firm had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The firm's revenue for the quarter was down 20.3% compared to the same quarter last year.

Several other research analysts have also recently weighed in on the stock. Benchmark boosted their price target on shares of UFP Industries from $120.00 to $137.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Wedbush restated a "neutral" rating and set a $102.00 price target on shares of UFP Industries in a report on Thursday, February 22nd. StockNews.com lowered shares of UFP Industries from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus lifted their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $114.00.

UFP Industries Stock Down 1.9 %

UFP Industries stock traded down $2.18 during midday trading on Wednesday, hitting $111.64. 242,063 shares of the stock were exchanged, compared to its average volume of 277,693. UFP Industries has a 52-week low of $76.01 and a 52-week high of $128.65. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 13.85 and a beta of 1.49. The business's 50-day moving average price is $116.46 and its 200-day moving average price is $112.82. The company has a quick ratio of 3.12, a current ratio of 4.41 and a debt-to-equity ratio of 0.08.

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.33 dividend. This is a positive change from UFP Industries's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 1.18%. UFP Industries's payout ratio is currently 16.38%.

Insiders Place Their Bets

In other news, CEO Matthew J. Missad sold 5,018 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the sale, the chief executive officer now owns 363,328 shares of the company's stock, valued at $41,437,558.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.58% of the company's stock.

Institutional Trading of UFP Industries

Several hedge funds and other institutional investors have recently modified their holdings of UFPI. Contravisory Investment Management Inc. bought a new stake in UFP Industries during the 4th quarter worth approximately $27,000. Advisors Asset Management Inc. bought a new stake in UFP Industries during the 3rd quarter worth approximately $28,000. GAMMA Investing LLC bought a new stake in UFP Industries during the 4th quarter worth approximately $30,000. Rise Advisors LLC bought a new stake in UFP Industries during the 1st quarter worth approximately $33,000. Finally, Opal Wealth Advisors LLC bought a new stake in UFP Industries during the 1st quarter worth approximately $33,000. Institutional investors own 81.81% 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.