UFP Industries, Inc. (NASDAQ:UFPI) Announces Quarterly Dividend of $0.35

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Investors of record on Monday, March 3rd will be given a dividend of 0.35 per share by the construction company on Monday, March 17th. This represents a $1.40 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33.

UFP Industries has increased its dividend by an average of 26.6% annually over the last three years. UFP Industries has a payout ratio of 16.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect UFP Industries to earn $7.42 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 17.8%.

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $114.45 on Wednesday. The stock has a market cap of $6.95 billion, a P/E ratio of 15.74 and a beta of 1.45. UFP Industries has a twelve month low of $107.25 and a twelve month high of $141.33. The stock has a 50 day moving average of $115.84 and a two-hundred day moving average of $123.25. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

Insider Activity

In other news, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the sale, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the sale, the director now owns 61,140 shares in the company, valued at $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on UFPI shares. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

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.