UFP Industries, Inc. (NASDAQ:UFPI) Increases Dividend to $0.35 Per Share

UFP Industries, Inc. (NASDAQ:UFPI) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Shareholders 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 raised its dividend by an average of 26.6% per year over the last three years. UFP Industries has a dividend payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 1.6 %

UFPI stock traded down $1.90 during mid-day trading on Tuesday, reaching $114.45. 403,030 shares of the stock traded hands, compared to its average volume of 284,825. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries has a 52-week low of $107.25 and a 52-week high of $141.33. The company has a market cap of $6.95 billion, a P/E ratio of 15.74 and a beta of 1.45. The stock’s fifty day moving average is $116.17 and its 200-day moving average is $123.30.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at UFP Industries

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

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.