UFP Industries, Inc. (NASDAQ:UFPI) Forecasted to Post Q3 2024 Earnings of $2.00 Per Share

UFP Industries, Inc. (NASDAQ:UFPI) – Equities researchers at Zacks Research cut their Q3 2024 earnings estimates for UFP Industries in a research note issued to investors on Tuesday, April 16th. Zacks Research analyst A. Gupta now expects that the construction company will earn $2.00 per share for the quarter, down from their previous estimate of $2.01. The consensus estimate for UFP Industries’ current full-year earnings is $7.39 per share. Zacks Research also issued estimates for UFP Industries’ Q1 2025 earnings at $1.82 EPS, Q3 2025 earnings at $2.16 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $8.10 EPS.

Several other brokerages have also recently issued reports on UFPI. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Benchmark raised their price target on UFP Industries from $120.00 to $137.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Wedbush reaffirmed a “neutral” rating and issued a $102.00 price target on shares of UFP Industries in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus raised their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, UFP Industries has an average rating of “Moderate Buy” and a consensus target price of $114.00.

UFP Industries Trading Down 1.9 %

Shares of UFP Industries stock traded down $2.18 on Wednesday, hitting $111.64. The stock had a trading volume of 242,064 shares, compared to its average volume of 277,693. The company has a quick ratio of 3.12, a current ratio of 4.41 and a debt-to-equity ratio of 0.08. UFP Industries has a one year low of $76.01 and a one year high of $128.65. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 14.12 and a beta of 1.49. The stock’s 50-day simple moving average is $116.55 and its two-hundred day simple moving average is $112.83.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Tuesday, February 20th. The construction company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.06). UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business posted $2.10 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.33 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 1.18%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.20. UFP Industries’s dividend payout ratio (DPR) is currently 16.38%.

Insider Buying and Selling at UFP Industries

In other news, CEO Matthew J. Missad sold 5,018 shares of UFP Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total value of $572,302.90. Following the completion of the transaction, the chief executive officer now owns 363,328 shares of the company’s stock, valued at approximately $41,437,558.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On UFP Industries

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in UFP Industries by 49.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,999 shares of the construction company’s stock worth $1,353,000 after buying an additional 3,657 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. increased its holdings in UFP Industries by 82.3% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock worth $29,007,000 after buying an additional 114,166 shares in the last quarter. Bridge City Capital LLC increased its holdings in UFP Industries by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 36,246 shares of the construction company’s stock worth $4,459,000 after buying an additional 283 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in UFP Industries in the 1st quarter worth about $33,000. Finally, Rise Advisors LLC bought a new stake in UFP Industries in the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

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.