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

UFP Industries (NASDAQ:UFPI) issued its earnings results on Monday. The construction company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.33), FiscalAI reports. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.40 billion. UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.

UFP Industries Trading Down 3.1%

UFPI stock traded down $3.45 during midday trading on Monday, reaching $106.32. The company’s stock had a trading volume of 390,969 shares, compared to its average volume of 370,776. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 19.65 and a beta of 1.49. UFP Industries has a 1 year low of $87.11 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. The stock has a fifty day simple moving average of $102.59 and a two-hundred day simple moving average of $97.59.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.36 per share. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd. UFP Industries’s payout ratio is currently 25.88%.

Insider Buying and Selling at UFP Industries

In other news, Chairman Matthew J. Missad sold 11,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the sale, the chairman owned 310,533 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Michael G. Wooldridge sold 1,192 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,373,140.71. This trade represents a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

Several hedge funds have recently bought and sold shares of UFPI. Millennium Management LLC raised its position in UFP Industries by 209.9% during the third quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after acquiring an additional 288,093 shares during the period. Wasatch Advisors LP lifted its stake in shares of UFP Industries by 18.7% in the fourth quarter. Wasatch Advisors LP now owns 1,533,299 shares of the construction company’s stock worth $139,607,000 after buying an additional 241,152 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in UFP Industries by 2,178.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock valued at $19,423,000 after acquiring an additional 203,957 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of UFP Industries during the 2nd quarter worth approximately $20,151,000. Finally, Goldman Sachs Group Inc. grew its position in shares of UFP Industries by 61.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 441,905 shares of the construction company’s stock valued at $40,235,000 after purchasing an additional 168,157 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

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