Zacks Research Equities Analysts Increase Earnings Estimates for UFP Industries, Inc. (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – Investment analysts at Zacks Research upped their Q1 2024 earnings per share estimates for shares of UFP Industries in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst A. Gupta now expects that the construction company will post earnings of $1.59 per share for the quarter, up from their prior forecast of $1.56. The consensus estimate for UFP Industries’ current full-year earnings is $7.40 per share. Zacks Research also issued estimates for UFP Industries’ Q4 2024 earnings at $1.63 EPS, FY2024 earnings at $7.34 EPS, Q2 2025 earnings at $2.33 EPS, Q1 2026 earnings at $2.00 EPS and FY2026 earnings at $8.61 EPS.

Several other equities research analysts also recently commented on UFPI. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Benchmark increased their target price on UFP Industries from $120.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Wedbush reaffirmed a “neutral” rating and issued a $102.00 target price on shares of UFP Industries in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus upped their price target on UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

UFP Industries Stock Performance

Shares of UFPI opened at $111.79 on Thursday. The company has a 50-day moving average of $116.18 and a two-hundred day moving average of $112.87. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 13.87 and a beta of 1.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12. UFP Industries has a one year low of $76.01 and a one year high of $128.65.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.06). The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.10 EPS.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.33 per share. This is a boost from UFP Industries’s previous quarterly dividend of $0.20. This represents a $1.32 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, February 29th. UFP Industries’s dividend payout ratio (DPR) is currently 16.38%.

Insider Buying and Selling

In related news, CEO Matthew J. Missad sold 5,018 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the sale, the chief executive officer now directly owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.58% of the stock is currently owned by corporate insiders.

Institutional Trading of UFP Industries

A number of institutional investors have recently added to or reduced their stakes in UFPI. American Century Companies Inc. lifted its stake in UFP Industries by 13.3% in the first quarter. American Century Companies Inc. now owns 12,877 shares of the construction company’s stock valued at $994,000 after acquiring an additional 1,513 shares during the last quarter. Citigroup Inc. raised its position in shares of UFP Industries by 4.7% in the first quarter. Citigroup Inc. now owns 64,448 shares of the construction company’s stock valued at $4,972,000 after purchasing an additional 2,886 shares during the period. PNC Financial Services Group Inc. raised its position in shares of UFP Industries by 9.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,374 shares of the construction company’s stock valued at $722,000 after purchasing an additional 792 shares during the period. Bank of Montreal Can raised its position in shares of UFP Industries by 2.1% in the first quarter. Bank of Montreal Can now owns 17,664 shares of the construction company’s stock valued at $1,445,000 after purchasing an additional 366 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of UFP Industries by 54.6% in the first quarter. MetLife Investment Management LLC now owns 32,217 shares of the construction company’s stock valued at $2,486,000 after purchasing an additional 11,377 shares during the period. 81.81% of the stock is currently 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.