UFP Industries, Inc. to Post Q2 2024 Earnings of $2.09 Per Share, DA Davidson Forecasts (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – DA Davidson issued their Q2 2024 earnings per share estimates for UFP Industries in a research report issued on Wednesday, May 1st. DA Davidson analyst K. Yinger forecasts that the construction company will post earnings per share of $2.09 for the quarter. The consensus estimate for UFP Industries’ current full-year earnings is $7.40 per share. DA Davidson also issued estimates for UFP Industries’ FY2025 earnings at $8.44 EPS.

Several other research analysts have also recently issued reports on UFPI. StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Wedbush reaffirmed a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a research report on Thursday, February 22nd. Stifel Nicolaus lifted their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Benchmark dropped their price target on UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.20.

UFP Industries Stock Up 1.0 %

Shares of NASDAQ:UFPI opened at $116.65 on Thursday. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 14.51 and a beta of 1.47. The company has a quick ratio of 3.12, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. UFP Industries has a 12-month low of $77.47 and a 12-month high of $128.65. The business’s 50 day moving average is $115.80 and its 200 day moving average is $113.68.

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

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, May 31st. This represents a $1.32 dividend on an annualized basis and a yield of 1.13%. UFP Industries’s dividend payout ratio (DPR) is currently 16.42%.

Insider Buying and Selling at UFP Industries

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

Institutional Investors Weigh In On UFP Industries

Institutional investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. bought a new position in shares of UFP Industries in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new stake in shares of UFP Industries in the fourth quarter worth $30,000. Rise Advisors LLC bought a new stake in UFP Industries during the first quarter valued at $33,000. Opal Wealth Advisors LLC purchased a new position in UFP Industries during the first quarter worth about $33,000. Finally, SRS Capital Advisors Inc. increased its stake in UFP Industries by 218.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. 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.