UFP Industries (NASDAQ:UFPI) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Key Points

• UFP Industries beat quarterly expectations, reporting $1.47 in EPS versus the $1.37 consensus and revenue of $1.88 billion, above estimates of $1.79 billion.
• Shares fell $3.30 to $87.71 during Wednesday trading. Analysts’ consensus rating remains Hold, with an average price target of $103.75.
• The company declared a quarterly dividend of $0.36, equivalent to $1.44 annually and a 1.6% yield; institutional investors own 81.81% of outstanding shares.

UFP Industries (NASDAQ:UFPI - Get Free Report) issued its quarterly earnings results on Wednesday. The construction company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.10, FiscalAI reports. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI traded down $3.30 during midday trading on Wednesday, reaching $87.71. 723,453 shares of the company traded hands, compared to its average volume of 439,308. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. UFP Industries has a 12 month low of $77.89 and a 12 month high of $118.00. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 19.15 and a beta of 1.22. The firm's fifty day moving average price is $84.97 and its two-hundred day moving average price is $93.21.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.36 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. UFP Industries's payout ratio is 31.44%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its holdings in shares of UFP Industries by 3.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company's stock worth $291,000 after buying an additional 92 shares in the last quarter. Arkadios Wealth Advisors grew its stake in UFP Industries by 2.1% during the fourth quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company's stock valued at $423,000 after acquiring an additional 97 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock valued at $32,000 after acquiring an additional 114 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in UFP Industries by 1.3% during the 4th quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company's stock worth $832,000 after acquiring an additional 114 shares during the period. Finally, Captrust Financial Advisors increased its holdings in UFP Industries by 4.1% during the 4th quarter. Captrust Financial Advisors now owns 4,346 shares of the construction company's stock worth $396,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 81.81% of the company's stock.

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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