UFP Industries, Inc. Declares Quarterly Dividend of $0.35 (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) declared a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Investors of record on Monday, June 2nd will be given a dividend of 0.35 per share by the construction company on Monday, June 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Monday, June 2nd.

UFP Industries has raised its dividend by an average of 26.6% annually over the last three years. UFP Industries has a payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect UFP Industries to earn $7.87 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 17.8%.

UFP Industries Price Performance

UFP Industries stock traded down $6.31 during mid-day trading on Tuesday, reaching $100.27. The company had a trading volume of 897,626 shares, compared to its average volume of 325,504. The business has a fifty day simple moving average of $106.74 and a 200 day simple moving average of $117.33. The company has a market cap of $6.10 billion, a P/E ratio of 14.81 and a beta of 1.45. UFP Industries has a fifty-two week low of $97.66 and a fifty-two week high of $141.33. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its earnings results on Monday, April 28th. The construction company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $1.96 EPS. UFP Industries's revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts predict that UFP Industries will post 7.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark reissued a "buy" rating and set a $135.00 target price on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com downgraded UFP Industries from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, UFP Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.00.

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.

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