Q3 2023 Earnings Forecast for UFP Industries, Inc. (NASDAQ:UFPI) Issued By Zacks Research

UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) – Investment analysts at Zacks Research boosted their Q3 2023 EPS estimates for UFP Industries in a report issued on Tuesday, May 23rd. Zacks Research analyst A. Gupta now expects that the construction company will earn $2.15 per share for the quarter, up from their prior forecast of $2.14. The consensus estimate for UFP Industries’ current full-year earnings is $8.25 per share. Zacks Research also issued estimates for UFP Industries’ Q4 2023 earnings at $1.70 EPS, FY2023 earnings at $8.05 EPS, Q1 2024 earnings at $1.97 EPS, Q3 2024 earnings at $2.28 EPS, Q4 2024 earnings at $2.01 EPS, FY2024 earnings at $8.71 EPS and FY2025 earnings at $9.28 EPS.

UFPI has been the subject of several other research reports. StockNews.com assumed coverage on shares of UFP Industries in a research note on Thursday, May 18th. They issued a “buy” rating for the company. DA Davidson boosted their price target on shares of UFP Industries from $102.00 to $112.00 in a research note on Wednesday, May 3rd. Benchmark boosted their price target on shares of UFP Industries from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. BMO Capital Markets boosted their price target on shares of UFP Industries from $95.00 to $100.00 in a research note on Tuesday, May 16th. Finally, Stifel Nicolaus cut their price objective on shares of UFP Industries from $102.00 to $100.00 in a report on Wednesday, May 3rd.

UFP Industries Stock Up 0.3 %

UFP Industries stock opened at $80.79 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.46 and a current ratio of 4.27. UFP Industries has a 52-week low of $64.13 and a 52-week high of $99.40. The firm has a 50 day moving average price of $79.65 and a two-hundred day moving average price of $82.44. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 8.10 and a beta of 1.48.

UFP Industries (NASDAQ:UFPI – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The construction company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.33. UFP Industries had a net margin of 7.02% and a return on equity of 24.92%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company posted $3.00 EPS. The firm’s quarterly revenue was down 26.8% compared to the same quarter last year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Wednesday, May 31st. UFP Industries’s dividend payout ratio (DPR) is currently 10.03%.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $83.60, for a total value of $418,000.00. Following the sale, the chief executive officer now directly owns 365,545 shares in the company, valued at approximately $30,559,562. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Matthew J. Missad sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $83.60, for a total transaction of $418,000.00. Following the sale, the chief executive officer now directly owns 365,545 shares in the company, valued at $30,559,562. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Matthew J. Missad sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $79.03, for a total value of $790,300.00. Following the sale, the chief executive officer now owns 370,545 shares in the company, valued at $29,284,171.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,991 shares of company stock worth $7,132,135. Company insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC boosted its stake in shares of UFP Industries by 683.3% during the first quarter. Global Retirement Partners LLC now owns 329 shares of the construction company’s stock valued at $27,000 after purchasing an additional 287 shares during the period. TCI Wealth Advisors Inc. raised its stake in shares of UFP Industries by 87.5% during the third quarter. TCI Wealth Advisors Inc. now owns 497 shares of the construction company’s stock valued at $36,000 after acquiring an additional 232 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of UFP Industries during the fourth quarter worth about $59,000. Point72 Hong Kong Ltd bought a new position in UFP Industries during the 1st quarter valued at approximately $62,000. Finally, Ronald Blue Trust Inc. lifted its holdings in UFP Industries by 100.5% in the 4th quarter. Ronald Blue Trust Inc. now owns 848 shares of the construction company’s stock worth $61,000 after buying an additional 425 shares during the period. 81.69% of the stock is currently owned by institutional investors.

UFP Industries Company Profile

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UFP Industries, Inc engages in the supply of products primarily manufactured from wood, wood and non-wood composites, and other materials to retail, packaging, and construction markets. It operates through the following segments: Retail Solutions, Packaging, and Construction. The Retail Solutions segment sells treated lumber products, wood plastic composite, mineral based composite decking and related decking accessories, exterior sliding, pattern, trim, and facia products.