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

UFP Industries, Inc. (NASDAQ:UFPI) – DA Davidson issued their Q2 2024 earnings estimates for shares of UFP Industries in a note issued to investors on Wednesday, May 1st. DA Davidson analyst K. Yinger anticipates 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.

UFP Industries (NASDAQ:UFPI) last released its earnings results 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 firm had revenue of $1.64 billion during 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 company’s revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS.

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

UFP Industries Stock Up 1.0 %

Shares of UFP Industries stock opened at $116.65 on Thursday. The firm has a market cap of $7.18 billion, a PE ratio of 14.51 and a beta of 1.47. The business’s 50 day simple moving average is $115.80 and its 200 day simple moving average is $113.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.12 and a current ratio of 4.79. UFP Industries has a 52-week low of $77.47 and a 52-week high of $128.65.

UFP Industries Dividend Announcement

The firm also recently announced 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, May 31st. UFP Industries’s payout ratio is presently 16.42%.

Insider Buying and Selling

In related news, CEO Matthew J. Missad sold 5,018 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 2.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UFPI. Kestra Advisory Services LLC grew its holdings in UFP Industries by 1.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 9,805 shares of the construction company’s stock valued at $1,004,000 after buying an additional 103 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in UFP Industries by 4.9% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,566 shares of the construction company’s stock valued at $322,000 after buying an additional 119 shares in the last quarter. Blue Trust Inc. grew its holdings in UFP Industries by 25.6% in the 4th quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock valued at $75,000 after buying an additional 121 shares in the last quarter. Legacy Trust grew its holdings in UFP Industries by 1.1% in the 1st quarter. Legacy Trust now owns 11,009 shares of the construction company’s stock valued at $1,354,000 after buying an additional 124 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in UFP Industries by 17.3% in the 4th quarter. Assetmark Inc. now owns 873 shares of the construction company’s stock valued at $110,000 after buying an additional 129 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

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.