UFP Industries (NASDAQ:UFPI) Releases Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Key Points

• UFP Industries reported Q earnings of $0.89 EPS, missing expectations by $0.26, and posted revenue of $1.46 billion versus $1.52 billion expected, with a net margin of 4.66% and ROE of 9.27%.
• Shares fell about $2.81 to $92.94 on higher-than-average volume; the stock carries a market cap near $5.28 billion and a P/E of roughly 18.6.
• The company announced a quarterly dividend of $0.36 per share (annualized $1.44), a yield of about 1.5% and a payout ratio around 28.9%, payable June 15 (record date June 1).

UFP Industries (NASDAQ:UFPI - Get Free Report) released its quarterly earnings results on Wednesday. The construction company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.26), FiscalAI reports. UFP Industries had a return on equity of 9.27% and a net margin of 4.66%.The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.52 billion.

UFP Industries Price Performance

UFPI stock traded down $2.81 during midday trading on Wednesday, hitting $92.94. 473,327 shares of the stock were exchanged, compared to its average volume of 374,593. The stock's 50-day moving average price is $95.40 and its 200-day moving average price is $96.33. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 18.63 and a beta of 1.44. UFP Industries has a fifty-two week low of $84.82 and a fifty-two week high of $118.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.13 and a current ratio of 4.59.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.44 annualized dividend and a yield of 1.5%. UFP Industries's payout ratio is currently 28.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings restated a "hold (c-)" rating on shares of UFP Industries in a research note on Tuesday, January 27th. DA Davidson decreased their price target on UFP Industries from $112.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, March 10th. BMO Capital Markets restated a "market perform" rating and issued a $108.00 price target (down from $112.00) on shares of UFP Industries in a research note on Monday, April 20th. Finally, Zacks Research downgraded UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $107.00.

Hedge Funds Weigh In On UFP Industries

A number of institutional investors have recently made changes to their positions in UFPI. Geneos Wealth Management Inc. raised its holdings in shares of UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock worth $32,000 after acquiring an additional 114 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of UFP Industries by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company's stock worth $38,000 after acquiring an additional 223 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of UFP Industries by 648.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company's stock worth $41,000 after acquiring an additional 376 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of UFP Industries by 90.9% in the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company's stock worth $54,000 after acquiring an additional 259 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of UFP Industries by 244.0% in the fourth quarter. UMB Bank n.a. now owns 664 shares of the construction company's stock worth $60,000 after acquiring an additional 471 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

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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