UFP Industries, Inc. Announces Quarterly Dividend of $0.33 (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.33 per share by the construction company on Monday, December 16th. This represents a $1.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, December 2nd.

UFP Industries has raised its dividend by an average of 30.1% per year over the last three years. UFP Industries has a dividend payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect UFP Industries to earn $7.83 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 16.9%.

UFP Industries Price Performance

NASDAQ:UFPI traded up $2.16 during trading hours on Wednesday, reaching $125.20. The stock had a trading volume of 15,670 shares, compared to its average volume of 279,526. 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. The company has a 50 day moving average price of $126.83 and a two-hundred day moving average price of $120.53. The stock has a market capitalization of $7.73 billion, a PE ratio of 15.30 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last announced its 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). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. UFP Industries’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.10 EPS. As a group, sell-side analysts anticipate that UFP Industries will post 7.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on UFPI. Wedbush upgraded UFP Industries from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $120.00 to $155.00 in a research note on Tuesday, October 8th. Benchmark lifted their target price on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus increased their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets lifted their target price on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $139.60.

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.