Q2 2024 EPS Estimates for UFP Industries, Inc. (NASDAQ:UFPI) Lowered by Zacks Research

UFP Industries, Inc. (NASDAQ:UFPI) – Equities researchers at Zacks Research reduced their Q2 2024 EPS estimates for UFP Industries in a research note issued on Tuesday, May 21st. Zacks Research analyst A. Gupta now anticipates that the construction company will earn $2.00 per share for the quarter, down from their previous forecast of $2.12. The consensus estimate for UFP Industries’ current full-year earnings is $7.53 per share. Zacks Research also issued estimates for UFP Industries’ Q3 2024 earnings at $1.97 EPS, FY2024 earnings at $7.56 EPS and Q2 2025 earnings at $2.28 EPS.

Several other research analysts also recently commented on UFPI. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Wedbush reissued a “neutral” rating and set a $102.00 price objective on shares of UFP Industries in a report on Thursday, February 22nd. Finally, Benchmark reduced their target price on UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.50.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $118.46 on Wednesday. The firm has a market capitalization of $7.32 billion, a PE ratio of 14.73 and a beta of 1.47. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $117.38 and a two-hundred day moving average price of $116.03. UFP Industries has a twelve month low of $77.47 and a twelve month high of $128.65.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $1.98 EPS. The company’s revenue was down 10.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in UFP Industries by 716.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock valued at $159,876,000 after buying an additional 1,370,105 shares during the period. Norges Bank purchased a new stake in shares of UFP Industries during the fourth quarter worth about $86,885,000. Wells Fargo & Company MN grew its stake in shares of UFP Industries by 871.3% in the fourth quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock worth $51,741,000 after purchasing an additional 369,687 shares during the last quarter. AQR Capital Management LLC increased its holdings in UFP Industries by 93.0% during the 3rd quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company’s stock valued at $69,544,000 after purchasing an additional 327,220 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in UFP Industries by 31.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 749,259 shares of the construction company’s stock valued at $76,724,000 after purchasing an additional 179,323 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Insider Buying and Selling at UFP Industries

In other news, CFO Michael R. Cole sold 1,452 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the transaction, the chief financial officer now owns 165,155 shares of the company’s stock, valued at approximately $19,699,688.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider David A. Tutas sold 3,038 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $120.21, for a total value of $365,197.98. Following the completion of the sale, the insider now owns 21,374 shares in the company, valued at approximately $2,569,368.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael R. Cole sold 1,452 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $119.28, for a total value of $173,194.56. Following the completion of the sale, the chief financial officer now directly owns 165,155 shares of the company’s stock, valued at approximately $19,699,688.40. The disclosure for this sale can be found here. Insiders have sold a total of 25,980 shares of company stock valued at $3,052,415 in the last 90 days. Corporate insiders own 2.58% of the company’s stock.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.33 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 1.11%. UFP Industries’s dividend payout ratio is currently 16.42%.

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.