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

Key Points

• UFP Industries, Inc. declared a quarterly dividend of $0.35 per share, payable on September 15th, representing an annualized dividend of $1.40 with a yield of 1.34%.
• The company's payout ratio stands at 20.5%, indicating that its dividend is well supported by earnings, with projected earnings per share expected to cover future dividends.
• Despite a recent dip, UFP Industries has a robust market presence with a market cap of $6.30 billion and a strong liquidity position, as evidenced by its high current and quick ratios.

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) declared a quarterly dividend on Monday, July 28th, RTT News reports. Investors of record on Monday, September 1st will be paid a dividend of 0.35 per share by the construction company on Monday, September 15th. This represents a $1.40 annualized dividend and a yield of 1.34%.

UFP Industries has a payout ratio of 20.5% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.5%

Shares of UFPI traded down $0.57 during mid-day trading on Monday, reaching $104.27. 372,400 shares of the company's stock traded hands, compared to its average volume of 444,882. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.96 and a quick ratio of 3.44. The stock's 50-day moving average is $100.36 and its two-hundred day moving average is $105.72. UFP Industries has a 12 month low of $93.00 and a 12 month high of $141.33. The stock has a market cap of $6.30 billion, a P/E ratio of 17.07 and a beta of 1.47.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.25). UFP Industries had a return on equity of 11.78% and a net margin of 5.64%. Research analysts forecast that UFP Industries will post 7.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On UFP Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in UFP Industries by 10.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company's stock worth $13,831,000 after buying an additional 12,043 shares in the last quarter. Royal Bank of Canada boosted its holdings in UFP Industries by 3.0% in the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company's stock valued at $6,597,000 after purchasing an additional 1,798 shares during the period. Finally, Integrated Wealth Concepts LLC grew its stake in UFP Industries by 8.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company's stock worth $317,000 after purchasing an additional 221 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Loop Capital started coverage on UFP Industries in a research report on Wednesday, July 23rd. They issued a "hold" rating and a $112.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, UFP Industries presently has an average rating of "Moderate Buy" and a consensus target price of $136.80.

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.

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