UFP Industries, Inc. (NASDAQ:UFPI) Plans Quarterly Dividend of $0.36

Key Points

• UFP Industries announced a quarterly dividend of $0.36 per share, payable on September 15 to shareholders of record as of September 1. The dividend implies an annualized yield of about 1.7%.
• The company has raised its dividend every year for the past five years, and its payout ratio of 21.1% suggests the dividend is well covered by earnings. Analysts expect it to remain covered next year as well.
• Shares of UFPI were down 1.4% in trading, and recent analyst sentiment is mixed: the stock has a consensus Hold rating with an average price target of $103.75.

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) announced a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.36 per share by the construction company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st.

UFP Industries has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. UFP Industries has a dividend payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect UFP Industries to earn $5.35 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 26.9%.

UFP Industries Trading Down 1.4%

NASDAQ:UFPI traded down $1.20 during trading hours on Thursday, reaching $85.50. 191,090 shares of the stock were exchanged, compared to its average volume of 434,574. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $84.38 and a two-hundred day moving average of $93.36. UFP Industries has a twelve month low of $77.89 and a twelve month high of $118.00. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 18.61 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.26). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The company's quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, equities analysts predict that UFP Industries will post 4.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on UFPI shares. Benchmark dropped their target price on UFP Industries from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, May 1st. DA Davidson reduced their price target on shares of UFP Industries from $110.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Stifel Nicolaus lowered their price objective on shares of UFP Industries from $100.00 to $87.00 and set a "hold" rating for the company in a research note on Monday, May 11th. BMO Capital Markets upgraded shares of UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 price objective for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of UFP Industries from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, UFP Industries presently has a consensus rating of "Hold" and an average price target of $103.75.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.

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