Q1 2024 EPS Estimates for UFP Industries, Inc. Increased by Zacks Research (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – Stock analysts at Zacks Research increased their Q1 2024 earnings per share estimates for shares of UFP Industries in a report released on Tuesday, April 16th. Zacks Research analyst A. Gupta now anticipates that the construction company will earn $1.59 per share for the quarter, up from their previous 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 quarterly earnings results 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). UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company posted $2.10 EPS. The business’s revenue was down 20.3% compared to the same quarter last year.

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

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $111.64 on Thursday. The business has a 50 day moving average price of $116.46 and a 200 day moving average price of $112.82. UFP Industries has a twelve month low of $76.01 and a twelve month high of $128.65. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 13.85 and a beta of 1.49. The company has a quick ratio of 3.12, a current ratio of 4.41 and a debt-to-equity ratio of 0.08.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.33 per share. The ex-dividend date was Thursday, February 29th. This is a positive change from UFP Industries’s previous quarterly dividend of $0.20. This represents a $1.32 annualized dividend and a yield of 1.18%. UFP Industries’s payout ratio is currently 16.38%.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of UFP Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the transaction, the chief executive officer now directly owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.58% of the company’s stock.

Institutional Trading of UFP Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of UFP Industries by 49.8% in 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 acquiring an additional 3,657 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. increased its position in shares of UFP Industries by 82.3% in 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 acquiring an additional 114,166 shares during the last quarter. Bridge City Capital LLC increased its position in shares of UFP Industries by 0.8% in the first quarter. Bridge City Capital LLC now owns 36,246 shares of the construction company’s stock valued at $4,459,000 after acquiring an additional 283 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of UFP Industries in the first quarter valued at about $33,000. Finally, Rise Advisors LLC acquired a new stake in shares of UFP Industries in the first quarter valued at about $33,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.