Equities Analysts Set Expectations for UFP Industries, Inc.’s Q1 2024 Earnings (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – Equities research analysts at Zacks Research lifted their Q1 2024 earnings per share (EPS) estimates for UFP Industries in a report released on Tuesday, April 16th. Zacks Research analyst A. Gupta now forecasts that the construction company will earn $1.59 per share 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 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). The firm 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 firm’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 EPS.

Other research analysts have also recently issued reports about the company. Benchmark raised their price objective on UFP Industries from $120.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Stifel Nicolaus raised their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Wedbush reissued a “neutral” rating and issued a $102.00 target price on shares of UFP Industries in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

UFP Industries Stock Down 0.9 %

Shares of NASDAQ:UFPI opened at $110.65 on Thursday. The stock’s 50-day moving average price is $116.32 and its 200-day moving average price is $112.81. UFP Industries has a 12-month low of $76.01 and a 12-month high of $128.65. The stock has a market capitalization of $6.81 billion, a P/E ratio of 13.73 and a beta of 1.49. The company has a current ratio of 4.41, a quick ratio of 3.12 and a debt-to-equity ratio of 0.08.

Institutional Trading of UFP Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC lifted its holdings in shares of UFP Industries by 6.8% during the first quarter. Measured Wealth Private Client Group LLC now owns 4,391 shares of the construction company’s stock valued at $540,000 after purchasing an additional 280 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of 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 valued at $1,870,000 after purchasing an additional 400 shares during the last quarter. AlphaMark Advisors LLC purchased a new position in shares of UFP Industries during the first quarter valued at approximately $298,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 valued at $1,353,000 after purchasing an additional 3,657 shares during the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. lifted its holdings in shares of UFP Industries by 82.3% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock valued at $29,007,000 after purchasing an additional 114,166 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the firm’s stock in a transaction dated 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 directly owns 363,328 shares in the company, valued at $41,437,558.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.58% of the stock is owned by insiders.

UFP Industries Increases Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, February 29th. 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 1.19%. UFP Industries’s dividend payout ratio (DPR) is presently 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.