Brokers Issue Forecasts for UFP Industries, Inc.’s Q2 2024 Earnings (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – Analysts at Wedbush lowered their Q2 2024 earnings per share estimates for UFP Industries in a note issued to investors on Monday, May 6th. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings per share of $2.09 for the quarter, down from their previous forecast of $2.13. Wedbush currently has a “Neutral” rating and a $102.00 price target on the stock. The consensus estimate for UFP Industries’ current full-year earnings is $7.37 per share. Wedbush also issued estimates for UFP Industries’ Q3 2024 earnings at $1.97 EPS, Q4 2024 earnings at $1.63 EPS, FY2024 earnings at $7.65 EPS, Q1 2025 earnings at $1.93 EPS, Q2 2025 earnings at $2.46 EPS, Q3 2025 earnings at $2.17 EPS and FY2025 earnings at $8.33 EPS.

UFP Industries (NASDAQ:UFPI) last issued its quarterly 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 earnings per share.

A number of other research analysts have also weighed in on UFPI. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Benchmark decreased their price objective on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Stifel Nicolaus increased their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, UFP Industries currently has a consensus rating of “Moderate Buy” and an average target price of $113.20.

UFP Industries Stock Performance

NASDAQ UFPI opened at $118.78 on Thursday. The company has a current ratio of 4.79, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $116.20 and its two-hundred day moving average is $114.34. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 14.77 and a beta of 1.47. UFP Industries has a 12-month low of $77.47 and a 12-month high of $128.65.

Institutional Trading of UFP Industries

A number of hedge funds have recently bought and sold shares of the company. TFG Advisers LLC lifted its stake in shares of UFP Industries by 5.2% during the 1st quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock worth $230,000 after purchasing an additional 92 shares during the period. Kestra Advisory Services LLC lifted its position in UFP Industries by 1.1% during the third quarter. Kestra Advisory Services LLC now owns 9,805 shares of the construction company’s stock worth $1,004,000 after buying an additional 103 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake 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 worth $322,000 after buying an additional 119 shares during 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 during the period. Finally, Legacy Trust increased its stake in shares of UFP Industries by 1.1% during the 1st quarter. Legacy Trust now owns 11,009 shares of the construction company’s stock valued at $1,354,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Insider Buying and Selling

In other news, CEO Matthew J. Missad sold 5,018 shares of the business’s stock in a transaction on 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 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 accessible through this hyperlink. Insiders own 2.58% of the company’s stock.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.11%. UFP Industries’s dividend payout ratio (DPR) is 16.42%.

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.