Brokerages predict that UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) will announce sales of $2.38 billion for the current quarter, Zacks reports. Two analysts have issued estimates for UFP Industries’ earnings, with the highest sales estimate coming in at $2.59 billion and the lowest estimate coming in at $2.18 billion. UFP Industries posted sales of $2.70 billion in the same quarter last year, which would indicate a negative year over year growth rate of 11.9%. The business is expected to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that UFP Industries will report full year sales of $9.35 billion for the current fiscal year, with estimates ranging from $8.60 billion to $10.10 billion. For the next fiscal year, analysts forecast that the firm will report sales of $9.20 billion, with estimates ranging from $8.72 billion to $9.68 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for UFP Industries.
UFP Industries (NASDAQ:UFPI – Get Rating) last posted its earnings results on Thursday, April 21st. The construction company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.99. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.06 billion. UFP Industries had a return on equity of 31.01% and a net margin of 6.69%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share.
In related news, insider Patrick M. Benton sold 7,900 shares of UFP Industries stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $80.02, for a total value of $632,158.00. Following the transaction, the insider now owns 126,703 shares of the company’s stock, valued at approximately $10,138,774.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Allen T. Peters sold 5,605 shares of UFP Industries stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $80.00, for a total value of $448,400.00. Following the completion of the transaction, the chief operating officer now directly owns 164,524 shares in the company, valued at approximately $13,161,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,250 shares of company stock worth $4,817,790. 3.74% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP grew its stake in shares of UFP Industries by 81.1% in the 1st quarter. First Trust Advisors LP now owns 113,362 shares of the construction company’s stock valued at $3,388,000 after buying an additional 50,777 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in UFP Industries in the 1st quarter worth approximately $140,000. Morgan Stanley lifted its holdings in UFP Industries by 13.9% in the 2nd quarter. Morgan Stanley now owns 294,367 shares of the construction company’s stock worth $21,883,000 after purchasing an additional 35,869 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in UFP Industries by 5.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 13,512 shares of the construction company’s stock worth $918,000 after purchasing an additional 656 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in UFP Industries by 89.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 146,100 shares of the construction company’s stock worth $9,932,000 after purchasing an additional 68,782 shares during the last quarter. 81.18% of the stock is currently owned by hedge funds and other institutional investors.
UFPI stock opened at $78.90 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.38 and a current ratio of 2.74. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 7.95 and a beta of 1.40. UFP Industries has a 1 year low of $67.50 and a 1 year high of $94.80. The stock’s fifty day moving average is $78.00 and its two-hundred day moving average is $83.01.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 31st. This is a boost from UFP Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.27%. UFP Industries’s payout ratio is 8.06%.
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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