Q2 2024 EPS Estimates for UFP Industries, Inc. Reduced by Analyst (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – Equities researchers at Zacks Research lowered their Q2 2024 earnings estimates for shares of UFP Industries in a report issued on Tuesday, May 21st. Zacks Research analyst A. Gupta now anticipates that the construction company will post earnings of $2.00 per share for the quarter, down from their previous forecast of $2.12. The consensus estimate for UFP Industries’ current full-year earnings is $7.53 per share. Zacks Research also issued estimates for UFP Industries’ Q3 2024 earnings at $1.97 EPS, FY2024 earnings at $7.56 EPS and Q2 2025 earnings at $2.28 EPS.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.34. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company posted $1.98 EPS. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Benchmark dropped their target price on UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Wedbush reissued a “neutral” rating and issued a $102.00 price target on shares of UFP Industries in a research report on Thursday, February 22nd. Finally, StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and an average price target of $116.50.

UFP Industries Stock Performance

UFPI stock opened at $118.46 on Wednesday. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 14.73 and a beta of 1.47. UFP Industries has a twelve month low of $77.47 and a twelve month high of $128.65. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $117.38 and its two-hundred day simple moving average is $116.03.

Institutional Investors Weigh In On UFP Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UFPI. Raymond James Financial Services Advisors Inc. boosted its position in shares of UFP Industries by 48.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,814 shares of the construction company’s stock worth $595,000 after purchasing an additional 1,903 shares during the period. Principal Financial Group Inc. grew its stake in shares of UFP Industries by 0.5% in the third quarter. Principal Financial Group Inc. now owns 244,497 shares of the construction company’s stock valued at $25,036,000 after buying an additional 1,294 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of UFP Industries in the 3rd quarter valued at $251,000. Seizert Capital Partners LLC lifted its stake in UFP Industries by 56.6% during the 3rd quarter. Seizert Capital Partners LLC now owns 26,486 shares of the construction company’s stock worth $2,712,000 after acquiring an additional 9,571 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in UFP Industries by 0.8% during the 3rd quarter. Arizona State Retirement System now owns 17,680 shares of the construction company’s stock valued at $1,810,000 after acquiring an additional 134 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

Insider Transactions at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were 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 owns 363,328 shares in the company, valued at $41,437,558.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider David A. Tutas sold 3,038 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total transaction of $365,197.98. Following the transaction, the insider now directly owns 21,374 shares in the company, valued at $2,569,368.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Missad sold 5,018 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the completion of the sale, the chief executive officer now owns 363,328 shares of the company’s stock, valued at $41,437,558.40. The disclosure for this sale can be found here. Insiders have sold 25,980 shares of company stock worth $3,052,415 over the last quarter. 2.58% of the stock is currently owned by insiders.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.11%. UFP Industries’s dividend payout ratio (DPR) is presently 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.