Zacks Research Weighs in on UFP Industries, Inc.’s Q3 2024 Earnings (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – Analysts at Zacks Research lowered their Q3 2024 EPS estimates for shares of UFP Industries in a research note issued on Tuesday, August 20th. Zacks Research analyst A. Gupta now expects that the construction company will post earnings per share of $1.81 for the quarter, down from their previous estimate of $1.96. The consensus estimate for UFP Industries’ current full-year earnings is $7.30 per share. Zacks Research also issued estimates for UFP Industries’ Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $7.30 EPS, Q2 2025 earnings at $2.26 EPS, Q3 2025 earnings at $2.09 EPS, Q4 2025 earnings at $1.75 EPS, FY2025 earnings at $7.91 EPS, Q1 2026 earnings at $1.96 EPS, Q2 2026 earnings at $2.34 EPS and FY2026 earnings at $8.36 EPS.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business earned $2.36 EPS. The company’s revenue was down 6.9% compared to the same quarter last year.

Several other research analysts have also issued reports on the stock. Stifel Nicolaus raised their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wedbush reiterated a “neutral” rating and issued a $120.00 price objective (up previously from $102.00) on shares of UFP Industries in a research note on Tuesday, July 30th. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. BMO Capital Markets lifted their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Finally, Benchmark lifted their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and an average target price of $132.60.

UFP Industries Stock Down 1.4 %

UFP Industries stock opened at $119.14 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. UFP Industries has a 52-week low of $90.62 and a 52-week high of $136.93. The firm has a 50 day moving average price of $117.70 and a two-hundred day moving average price of $116.93. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 14.89 and a beta of 1.40.

Hedge Funds Weigh In On UFP Industries

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in UFP Industries during the 4th quarter worth $30,000. Headlands Technologies LLC purchased a new position in UFP Industries during the 2nd quarter worth $29,000. Opal Wealth Advisors LLC purchased a new position in UFP Industries during the 1st quarter worth $33,000. Rise Advisors LLC purchased a new position in UFP Industries during the 1st quarter worth $33,000. Finally, SRS Capital Advisors Inc. boosted its holdings in UFP Industries by 218.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at UFP Industries

In related news, insider Patrick M. Benton sold 11,725 shares of UFP Industries stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total value of $1,351,540.75. Following the completion of the sale, the insider now owns 97,729 shares of the company’s stock, valued at approximately $11,265,221.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.58% of the stock is currently owned by insiders.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, August 30th. UFP Industries’s 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.