UFP Industries, Inc. (NASDAQ:UFPI) Forecasted to Post Q3 2024 Earnings of $2.00 Per Share

UFP Industries, Inc. (NASDAQ:UFPI) – Stock analysts at Zacks Research reduced their Q3 2024 EPS estimates for UFP Industries in a research report issued on Tuesday, April 16th. Zacks Research analyst A. Gupta now forecasts that the construction company will post earnings per share of $2.00 for the quarter, down from their previous forecast of $2.01. The consensus estimate for UFP Industries’ current full-year earnings is $7.39 per share. Zacks Research also issued estimates for UFP Industries’ Q1 2025 earnings at $1.82 EPS, Q3 2025 earnings at $2.16 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $8.10 EPS.

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

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

UFP Industries Price Performance

Shares of UFP Industries stock traded down $2.18 on Wednesday, hitting $111.64. The company had a trading volume of 242,064 shares, compared to its average volume of 277,693. The business has a 50-day simple moving average of $116.55 and a 200-day simple moving average of $112.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12. The company has a market cap of $6.87 billion, a PE ratio of 14.12 and a beta of 1.49. UFP Industries has a 52 week low of $76.01 and a 52 week high of $128.65.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new stake in UFP Industries in the 4th quarter worth $27,000. GAMMA Investing LLC acquired a new stake in UFP Industries in the 4th quarter worth $30,000. Opal Wealth Advisors LLC acquired a new stake in UFP Industries in the 1st quarter worth $33,000. Rise Advisors LLC acquired a new stake in UFP Industries in the 1st quarter worth $33,000. Finally, Advisors Asset Management Inc. acquired a new stake in UFP Industries in the 3rd quarter worth $28,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $41,437,558.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.58% of the company’s stock.

UFP Industries Increases Dividend

The company also recently disclosed 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 positive change from UFP Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.32 dividend on an annualized basis and a yield of 1.18%. UFP Industries’s dividend payout ratio (DPR) is currently 16.38%.

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.