FY2024 Earnings Estimate for UFP Industries, Inc. (NASDAQ:UFPI) Issued By DA Davidson

UFP Industries, Inc. (NASDAQ:UFPI) – Stock analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for shares of UFP Industries in a research note issued on Wednesday, May 1st. DA Davidson analyst K. Yinger now expects that the construction company will post earnings per share of $7.54 for the year, down from their previous forecast of $7.68. The consensus estimate for UFP Industries’ current full-year earnings is $7.40 per share.

A number of other analysts also recently weighed in on UFPI. Wedbush reiterated 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 upped their price target on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Benchmark cut their target price on UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, UFP Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.20.

UFP Industries Stock Performance

UFPI opened at $116.65 on Friday. UFP Industries has a 12-month low of $77.47 and a 12-month high of $128.65. 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 business has a 50 day moving average of $115.80 and a 200-day moving average of $113.68. 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 (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.98 EPS.

UFP Industries Announces Dividend

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

Insider Transactions at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the sale, the chief executive officer now owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UFP Industries

Large investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of UFP Industries by 716.7% during the third 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 position in shares of UFP Industries in the 4th quarter valued at approximately $86,885,000. Wells Fargo & Company MN boosted its position in shares of UFP Industries by 871.3% during the fourth quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock valued at $51,741,000 after purchasing an additional 369,687 shares in the last quarter. AQR Capital Management LLC grew its stake in UFP Industries by 93.0% in the third quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company’s stock worth $69,544,000 after purchasing an additional 327,220 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in UFP Industries by 31.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 749,259 shares of the construction company’s stock worth $76,724,000 after purchasing an additional 179,323 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

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.