UFP Industries, Inc. (NASDAQ:UFPI) Plans Quarterly Dividend of $0.35

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Monday, March 3rd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33.

UFP Industries has raised its dividend payment by an average of 26.6% annually over the last three years. UFP Industries has a dividend payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect UFP Industries to earn $7.99 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 16.5%.

UFP Industries Price Performance

NASDAQ:UFPI opened at $112.89 on Thursday. The stock has a 50 day moving average price of $115.46 and a 200 day moving average price of $123.18. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The stock has a market cap of $6.85 billion, a PE ratio of 16.68 and a beta of 1.45. UFP Industries has a one year low of $107.25 and a one year high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data 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 firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.35%. Equities research analysts expect that UFP Industries will post 7.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on UFPI shares. Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of UFP Industries in a report on Wednesday. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Wedbush restated an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

Insiders Place Their Bets

In other news, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction 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. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $721,563.00. Following the sale, the director now directly owns 61,140 shares in the company, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by insiders.

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.