UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) – Equities researchers at Zacks Research upped their Q3 2023 earnings per share (EPS) estimates for shares of UFP Industries in a report released 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 estimate 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.
UFP Industries (NASDAQ:UFPI – Get Rating) last announced its earnings results on Tuesday, May 2nd. The construction company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.33. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. UFP Industries had a net margin of 7.02% and a return on equity of 24.92%. The company’s revenue for the quarter was down 26.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.00 EPS.
Other equities analysts also recently issued research reports about the company. StockNews.com began coverage on UFP Industries in a research report on Thursday, May 18th. They set a “buy” rating for the company. Stifel Nicolaus cut their price target on shares of UFP Industries from $102.00 to $100.00 in a research report on Wednesday, May 3rd. DA Davidson raised their price objective on UFP Industries from $102.00 to $112.00 in a report on Wednesday, May 3rd. Benchmark lifted their target price on UFP Industries from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Finally, BMO Capital Markets increased their price target on UFP Industries from $95.00 to $100.00 in a research report on Tuesday, May 16th.
UFP Industries Stock Up 0.2 %
UFPI stock opened at $80.53 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.27 and a quick ratio of 2.46. The stock has a market capitalization of $4.96 billion, a P/E ratio of 8.08 and a beta of 1.48. UFP Industries has a fifty-two week low of $64.13 and a fifty-two week high of $99.40. The business has a 50-day moving average of $79.58 and a 200-day moving average of $82.37.
UFP Industries Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.00 annualized dividend and a yield of 1.24%. UFP Industries’s dividend payout ratio (DPR) is currently 10.03%.
Insider Buying and Selling
In other UFP Industries news, CEO Matthew J. Missad sold 5,000 shares of the company’s stock in a transaction that occurred on 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 owns 365,545 shares in the company, valued at $30,559,562. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other UFP Industries news, Director William G. Currie sold 46,830 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $85.10, for a total transaction of $3,985,233.00. Following the completion of the sale, the director now directly owns 63,770 shares in the company, valued at $5,426,827. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Missad sold 5,000 shares of the business’s stock in a transaction that occurred on 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 owns 365,545 shares of the company’s stock, valued at approximately $30,559,562. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,991 shares of company stock worth $7,132,135. Company insiders own 3.55% of the company’s stock.
Institutional Trading of UFP Industries
Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of UFP Industries by 1.6% during the third quarter. Arizona State Retirement System now owns 17,048 shares of the construction company’s stock worth $1,230,000 after buying…
Read More: Brokers Set Expectations for UFP Industries, Inc.’s Q3 2023 Earnings