UFP Industries, Inc. (NASDAQ:UFPI) to Issue $0.36 Quarterly Dividend

UFP Industries, Inc. (NASDAQ:UFPI) announced a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Tuesday, September 1st will be given 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 is Tuesday, September 1st.

UFP Industries has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. UFP Industries has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ UFPI traded down $1.20 during midday trading on Thursday, hitting $85.50. The company had a trading volume of 191,090 shares, compared to its average volume of 434,574. The business has a 50-day simple moving average of $84.38 and a two-hundred day simple moving average of $93.36. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 18.61 and a beta of 1.22. 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 twelve month low of $77.89 and a twelve month high of $118.00.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results 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 return on equity of 8.50% and a net margin of 4.31%.The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Equities research analysts anticipate that UFP Industries will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On UFP Industries

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in UFP Industries by 3.0% during the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock worth $6,597,000 after purchasing an additional 1,798 shares during the period. Integrated Wealth Concepts LLC grew its stake 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 valued at $317,000 after buying an additional 221 shares during the period. 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 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock valued at $13,831,000 after buying an additional 12,043 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of UFP Industries by 90.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after buying an additional 259 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of UFP Industries in the 2nd quarter worth $232,000. 81.81% of the stock is owned by institutional investors and hedge funds.

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.