UFP Industries (NASDAQ:UFPI) Shares Gap Down on Disappointing Earnings

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $106.58, but opened at $100.07. UFP Industries shares last traded at $101.02, with a volume of 43,508 shares traded.

The construction company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.27). The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The firm's revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business posted $1.96 EPS.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.40%. UFP Industries's payout ratio is 20.68%.

Analysts Set New Price Targets

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

Institutional Trading of UFP Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in UFP Industries by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company's stock worth $82,847,000 after acquiring an additional 60,859 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of UFP Industries by 3.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock valued at $102,158,000 after buying an additional 31,381 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of UFP Industries by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company's stock valued at $213,000 after buying an additional 97 shares during the last quarter. Argent Capital Management LLC raised its stake in shares of UFP Industries by 35.8% during the 4th quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company's stock valued at $1,386,000 after buying an additional 3,241 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of UFP Industries by 18.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company's stock valued at $169,675,000 after buying an additional 188,969 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

UFP Industries Price Performance

The stock has a 50 day simple moving average of $106.22 and a two-hundred day simple moving average of $116.82. The firm has a market cap of $6.08 billion, a PE ratio of 14.76 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88.

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.