FY2024 EPS Estimate for UFP Industries Decreased by Analyst

UFP Industries, Inc. (NASDAQ:UFPI) – Investment analysts at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for UFP Industries in a research report issued on Wednesday, October 30th. DA Davidson analyst K. Yinger now anticipates that the construction company will post earnings per share of $6.83 for the year, down from their prior forecast of $7.10. The consensus estimate for UFP Industries’ current full-year earnings is $7.27 per share. DA Davidson also issued estimates for UFP Industries’ FY2025 earnings at $7.51 EPS.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. UFP Industries’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the company posted $2.10 earnings per share.

Several other research analysts also recently weighed in on the company. Wedbush upgraded UFP Industries from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $120.00 to $155.00 in a report on Tuesday, October 8th. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. BMO Capital Markets raised their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their price target on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Benchmark increased their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

UFP Industries Stock Performance

Shares of UFPI opened at $122.34 on Thursday. UFP Industries has a 1 year low of $90.62 and a 1 year high of $139.54. The company’s 50 day simple moving average is $126.86 and its 200 day simple moving average is $120.54. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 15.22 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34.

Institutional Trading of UFP Industries

A number of institutional investors have recently modified their holdings of UFPI. UMB Bank n.a. boosted its position in UFP Industries by 300.0% during the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after purchasing an additional 144 shares during the period. Headlands Technologies LLC purchased a new position in UFP Industries in the 2nd quarter worth approximately $29,000. Signaturefd LLC grew its position in UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after acquiring an additional 76 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in UFP Industries during the 2nd quarter worth $56,000. Finally, GAMMA Investing LLC boosted its position in UFP Industries by 84.2% in the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.08%. UFP Industries’s dividend payout ratio (DPR) is 16.42%.

About UFP Industries

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.