Q1 2024 EPS Estimates for UFP Industries, Inc. Increased by Zacks Research (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – Equities researchers at Zacks Research raised their Q1 2024 EPS estimates for shares of UFP Industries in a research report issued on Tuesday, April 16th. Zacks Research analyst A. Gupta now anticipates that the construction company will post earnings per share of $1.59 for the quarter, up from their prior forecast of $1.56. The consensus estimate for UFP Industries’ current full-year earnings is $7.39 per share. Zacks Research also issued estimates for UFP Industries’ Q4 2024 earnings at $1.63 EPS, FY2024 earnings at $7.34 EPS, Q2 2025 earnings at $2.33 EPS, Q1 2026 earnings at $2.00 EPS and FY2026 earnings at $8.61 EPS.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.06). UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the firm posted $2.10 earnings per share. UFP Industries’s revenue for the quarter was down 20.3% on a year-over-year basis.

A number of other brokerages have also weighed in on UFPI. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Benchmark lifted their price objective on shares of UFP Industries from $120.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Wedbush restated a “neutral” rating and issued a $102.00 price target on shares of UFP Industries in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, UFP Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

UFP Industries Price Performance

UFPI stock opened at $111.64 on Thursday. UFP Industries has a 12 month low of $76.01 and a 12 month high of $128.65. The company has a current ratio of 4.41, a quick ratio of 3.12 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $116.46 and a 200 day moving average price of $112.82. The stock has a market cap of $6.87 billion, a PE ratio of 13.85 and a beta of 1.49.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.33 dividend. This is a boost from UFP Industries’s previous quarterly dividend of $0.20. This represents a $1.32 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, February 29th. UFP Industries’s payout ratio is currently 16.38%.

Insider Activity at UFP Industries

In related news, CEO Matthew J. Missad sold 5,018 shares of the business’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 transaction, the chief executive officer now directly owns 363,328 shares in the company, valued at approximately $41,437,558.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of UFP Industries by 0.5% in the third quarter. Vanguard Group Inc. now owns 7,378,757 shares of the construction company’s stock valued at $532,450,000 after purchasing an additional 33,825 shares during the period. State Street Corp grew its holdings in shares of UFP Industries by 1.9% in the second quarter. State Street Corp now owns 2,095,833 shares of the construction company’s stock valued at $203,401,000 after purchasing an additional 39,896 shares during the period. Victory Capital Management Inc. grew its holdings in shares of UFP Industries by 25.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,714,394 shares of the construction company’s stock valued at $135,866,000 after purchasing an additional 348,158 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of UFP Industries by 716.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock valued at $159,876,000 after purchasing an additional 1,370,105 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of UFP Industries by 8.8% in the first quarter. Geode Capital Management LLC now owns 1,258,702 shares of the construction company’s stock valued at $100,701,000 after purchasing an additional 102,125 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

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.