UFP Industries (NASDAQ:UFPI) Announces Quarterly Earnings Results, Misses Expectations By $0.33 EPS

UFP Industries (NASDAQ:UFPI) posted its earnings results on Monday. The construction company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33), FiscalAI reports. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.40 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.18%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 EPS.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $106.32 on Tuesday. UFP Industries has a 52 week low of $87.11 and a 52 week high of $118.00. The company has a fifty day simple moving average of $102.87 and a two-hundred day simple moving average of $97.64. The company has a quick ratio of 3.23, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 19.65 and a beta of 1.49.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.4%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, March 2nd. UFP Industries’s payout ratio is presently 26.62%.

Insiders Place Their Bets

In related news, Chairman Matthew J. Missad sold 11,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the completion of the transaction, the chairman directly owned 310,533 shares of the company’s stock, valued at $28,649,774.58. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total value of $111,368.56. Following the sale, the director owned 14,697 shares in the company, valued at approximately $1,373,140.71. This trade represents a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.56% of the company’s stock.

Institutional Trading of UFP Industries

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in UFP Industries by 3.0% during the 1st quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock worth $6,597,000 after acquiring an additional 1,798 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of UFP Industries by 10.3% during the first 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 purchasing an additional 12,043 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in UFP Industries by 90.9% in the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock valued at $54,000 after buying an additional 259 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in UFP Industries in the second quarter valued at $232,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on UFPI. Stifel Nicolaus set a $98.00 price target on shares of UFP Industries in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $110.00 to $112.00 in a research report on Friday, October 31st. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, UFP Industries presently has a consensus rating of “Hold” and an average target price of $107.33.

UFP Industries Company Profile

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.