UFP Industries, Inc. Forecasted to Post Q2 2022 Earnings of $2.36 Per Share (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) – Stock analysts at DA Davidson issued their Q2 2022 earnings estimates for UFP Industries in a report issued on Tuesday, April 26th. DA Davidson analyst K. Yinger anticipates that the construction company will post earnings per share of $2.36 for the quarter.

UFP Industries (NASDAQ:UFPI – Get Rating) last posted its earnings results on Thursday, April 21st. The construction company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $1.91 by $1.09. UFP Industries had a return on equity of 32.38% and a net margin of 6.69%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the business earned $1.67 earnings per share. The firm’s revenue was up 36.4% compared to the same quarter last year.

A number of other equities research analysts have also recently weighed in on the company. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a research note on Tuesday. Wedbush boosted their price objective on UFP Industries from $85.00 to $92.00 in a research note on Thursday, February 17th. Finally, BMO Capital Markets boosted their price objective on UFP Industries from $82.00 to $88.00 and gave the company a “market perform” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, UFP Industries presently has an average rating of “Buy” and a consensus price target of $92.83.

Shares of NASDAQ UFPI opened at $78.90 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 1.43 and a debt-to-equity ratio of 0.14. UFP Industries has a twelve month low of $67.50 and a twelve month high of $94.80. The stock has a 50 day moving average of $81.36 and a two-hundred day moving average of $83.57. The stock has a market cap of $4.90 billion, a P/E ratio of 7.95 and a beta of 1.50.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.20. UFP Industries’s payout ratio is presently 8.06%.

In other UFP Industries news, COO Patrick M. Webster sold 2,420 shares of the company’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $85.00, for a total value of $205,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Patrick M. Webster sold 15,815 shares of the company’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $85.36, for a total value of $1,349,968.40. The disclosure for this sale can be found here. In the last three months, insiders sold 33,535 shares of company stock worth $2,839,871. Corporate insiders own 3.74% of the company’s stock.

A number of institutional investors have recently bought and sold shares of UFPI. First Horizon Advisors Inc. lifted its position in shares of UFP Industries by 90.1% in the fourth quarter. First Horizon Advisors Inc. now owns 308 shares of the construction company’s stock valued at $28,000 after acquiring an additional 146 shares in the last quarter. Baystate Wealth Management LLC purchased a new stake in shares of UFP Industries in the fourth quarter valued at $32,000. Ellevest Inc. purchased a new stake in shares of UFP Industries in the fourth quarter valued at $32,000. Clearstead Advisors LLC purchased a new stake in shares of UFP Industries in the third quarter valued at $43,000. Finally, Quadrant Capital Group LLC lifted its position in shares of UFP Industries by 143.4% in the fourth quarter. Quadrant Capital Group LLC now owns 477 shares of the construction company’s stock valued at $44,000 after acquiring an additional 281 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

About UFP Industries (Get Rating)

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. It operates through Retail, Industrial, and Construction segments. The Retail segment offers preserved and unpreserved dimensional lumber; and outdoor living products, including wood and wood composite decking and related accessories, decorative lawn, garden, craft, and hobby products.

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