UFP Industries, Inc. (NASDAQ:UFPI) Announces Dividend Increase – $0.35 Per Share

UFP Industries, Inc. (NASDAQ:UFPI) announced a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Investors of record on Monday, March 3rd will be given a dividend of 0.35 per share by the construction company on Monday, March 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Monday, March 3rd. This is a boost from UFP Industries’s previous quarterly dividend of $0.33.

UFP Industries has raised its dividend by an average of 26.6% per year over the last three years. UFP Industries has a payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect UFP Industries to earn $7.87 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 17.8%.

UFP Industries Price Performance

NASDAQ:UFPI opened at $107.00 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The stock’s 50-day simple moving average is $113.85 and its 200 day simple moving average is $122.75. The company has a market cap of $6.50 billion, a P/E ratio of 15.81 and a beta of 1.45. UFP Industries has a 52-week low of $105.29 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. As a group, sell-side analysts forecast that UFP Industries will post 7.08 EPS for the current fiscal year.

Insider Transactions at UFP Industries

In other news, Director William G. Currie sold 5,700 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the sale, the director now owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UFPI. Benchmark reissued a “buy” rating and set a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Wedbush reissued an “outperform” rating and set a $155.00 price target on shares of UFP Industries in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $143.00.

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.