UFP Industries, Inc. (UFPI) to Distribute Quarterly Dividend of $0.36 on December 15th

UFP Industries, Inc. (NASDAQ:UFPI) announced a quarterly dividend on Wednesday, October 21st. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.36 per share by the construction company on Tuesday, December 15th. This represents a $1.44 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, December 1st.

UFP Industries has raised its dividend payment by an average of 0.2% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. UFP Industries has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect UFP Industries to earn $5.41 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 26.6%.

UFP Industries Price Performance

UFP Industries stock opened at $83.72 on Friday. The firm has a market capitalization of $4.62 billion, a PE ratio of 19.20 and a beta of 1.22. UFP Industries has a 52 week low of $73.72 and a 52 week high of $118.00. The firm’s 50-day simple moving average is $81.64 and its 200 day simple moving average is $85.37. The company has a quick ratio of 2.64, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.11. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. On average, equities research analysts predict that UFP Industries will post 4.47 EPS for the current fiscal year.

Institutional Trading of UFP Industries

A number of hedge funds have recently bought and sold shares of UFPI. BlackRock Inc. acquired a new stake in shares of UFP Industries during the second quarter worth $688,063,000. Wasatch Advisors LP increased its stake in UFP Industries by 32.9% in the first quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock valued at $187,732,000 after purchasing an additional 504,609 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in UFP Industries by 27.1% during the first quarter. Deprince Race & Zollo Inc. now owns 579,797 shares of the construction company’s stock worth $53,411,000 after buying an additional 123,500 shares during the period. Bank of New York Mellon Corp purchased a new position in UFP Industries during the second quarter worth about $34,067,000. Finally, Bank of America Corp DE purchased a new position in UFP Industries during the second quarter worth about $25,529,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

About UFP Industries

UFP Industries, Inc is a diversified manufacturer and distributor of wood, composite and other products serving the retail, construction and industrial markets. The company supplies materials and components used in outdoor living, residential and commercial construction, manufactured housing, packaging and a range of industrial applications.

Its products include treated lumber, decking, fencing, landscaping products, roof trusses, wall panels, wood components, pallets, crates, specialty packaging and other custom-engineered products.