FY2024 EPS Estimates for UFP Industries Reduced by Analyst

UFP Industries, Inc. (NASDAQ:UFPI) – Equities researchers at DA Davidson reduced their FY2024 EPS estimates for UFP Industries in a research report issued on Wednesday, October 30th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings of $6.83 per share for the year, down from their prior forecast of $7.10. The consensus estimate for UFP Industries’ current full-year earnings is $7.27 per share. DA Davidson also issued estimates for UFP Industries’ FY2025 earnings at $7.51 EPS.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $2.10 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets upped their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Stifel Nicolaus boosted their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Benchmark raised their target price on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and upped their price target for the company from $120.00 to $155.00 in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, UFP Industries has a consensus rating of “Moderate Buy” and an average price target of $139.60.

UFP Industries Stock Down 0.5 %

Shares of NASDAQ:UFPI opened at $122.39 on Thursday. The company has a 50 day moving average price of $126.83 and a two-hundred day moving average price of $120.53. The company has a market capitalization of $7.56 billion, a PE ratio of 15.22 and a beta of 1.39. UFP Industries has a 52 week low of $90.62 and a 52 week high of $139.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio (DPR) is currently 16.42%.

Hedge Funds Weigh In On UFP Industries

Several hedge funds have recently made changes to their positions in UFPI. Wealth Enhancement Advisory Services LLC raised its position in UFP Industries by 49.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,999 shares of the construction company’s stock worth $1,353,000 after acquiring an additional 3,657 shares in the last quarter. State of Michigan Retirement System increased its position in UFP Industries by 2.7% during the first quarter. State of Michigan Retirement System now owns 15,200 shares of the construction company’s stock worth $1,870,000 after buying an additional 400 shares during the last quarter. SpiderRock Advisors LLC bought a new stake in UFP Industries in the first quarter valued at approximately $292,000. Van ECK Associates Corp lifted its position in shares of UFP Industries by 53.7% in the first quarter. Van ECK Associates Corp now owns 27,528 shares of the construction company’s stock valued at $3,386,000 after buying an additional 9,622 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of UFP Industries by 0.3% in the first quarter. Retirement Systems of Alabama now owns 77,623 shares of the construction company’s stock valued at $9,548,000 after buying an additional 206 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

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.