UFP Industries, Inc. (NASDAQ:UFPI) to Issue $0.33 Quarterly Dividend

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.33 per share by the construction company on Monday, December 16th. This represents a $1.32 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Monday, December 2nd.

UFP Industries has raised its dividend payment by an average of 30.1% per year over the last three years. UFP Industries has a payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect UFP Industries to earn $7.42 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 17.8%.

UFP Industries Stock Up 0.5 %

UFPI stock opened at $135.90 on Friday. The company’s 50 day moving average is $131.68 and its 200 day moving average is $123.06. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 18.69 and a beta of 1.39. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries has a 1-year low of $107.49 and a 1-year high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued 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). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. UFP Industries’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 EPS. Sell-side analysts predict that UFP Industries will post 6.88 EPS for the current fiscal year.

Analysts Set New Price Targets

UFPI has been the topic of a number of research reports. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Wedbush reiterated an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.58% of the company’s stock.

UFP Industries Company Profile

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.