UFP Industries FY2024 EPS Forecast Decreased by DA Davidson

UFP Industries, Inc. (NASDAQ:UFPI) – DA Davidson reduced their FY2024 earnings per share (EPS) estimates for UFP Industries in a note issued to investors on Wednesday, October 30th. DA Davidson analyst K. Yinger now forecasts that the construction company will post earnings per share of $6.83 for the year, down from their prior forecast of $7.10. The consensus estimate for UFP Industries’ current full-year earnings is $7.27 per share. DA Davidson also issued estimates for UFP Industries’ FY2025 earnings at $7.51 EPS.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 earnings per share.

Several other research analysts have also recently weighed in on UFPI. Benchmark boosted their target price on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Stifel Nicolaus upped their target price on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $120.00 to $155.00 in a report on Tuesday, October 8th. Finally, BMO Capital Markets increased their target price on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $139.60.

UFP Industries Stock Down 0.0 %

Shares of UFPI opened at $122.34 on Thursday. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $126.86 and its two-hundred day moving average is $120.54. The firm has a market cap of $7.55 billion, a P/E ratio of 15.22 and a beta of 1.39. UFP Industries has a 12 month low of $90.62 and a 12 month high of $139.54.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in UFPI. Signaturefd LLC grew its position in UFP Industries by 31.8% in the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after buying an additional 76 shares during the last quarter. TFG Advisers LLC lifted its holdings in shares of UFP Industries by 5.2% in the 1st quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock valued at $230,000 after buying an additional 92 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of UFP Industries by 0.7% in the second quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock valued at $1,630,000 after buying an additional 105 shares in the last quarter. Cadence Bank grew its holdings in UFP Industries by 0.6% during the first quarter. Cadence Bank now owns 19,464 shares of the construction company’s stock worth $2,394,000 after acquiring an additional 110 shares during the period. Finally, SummerHaven Investment Management LLC grew its holdings in UFP Industries by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company’s stock worth $866,000 after acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio is currently 16.42%.

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.