DA Davidson Decreases Earnings Estimates for UFP Industries

UFP Industries, Inc. (NASDAQ:UFPI) – Investment analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for shares of UFP Industries in a report issued on Wednesday, October 30th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings of $6.83 per share for the year, down from their prior forecast of $7.10. The consensus estimate for UFP Industries’ current full-year earnings is $7.18 per share. DA Davidson also issued estimates for UFP Industries’ FY2025 earnings at $7.51 EPS.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.10 earnings per share.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets increased their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Wedbush upgraded UFP Industries from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $120.00 to $155.00 in a research report on Tuesday, October 8th. Stifel Nicolaus raised their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Benchmark lifted their price objective on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

UFP Industries Stock Performance

UFPI stock opened at $123.08 on Thursday. The firm has a market cap of $7.50 billion, a PE ratio of 16.93 and a beta of 1.39. The company has a quick ratio of 3.18, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $126.92 and a 200-day moving average of $120.55. UFP Industries has a 12-month low of $96.72 and a 12-month high of $139.54.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 1.07%. UFP Industries’s dividend payout ratio is presently 18.16%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in UFP Industries by 0.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock worth $361,155,000 after acquiring an additional 28,601 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of UFP Industries by 3.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock worth $116,467,000 after acquiring an additional 32,555 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of UFP Industries by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after acquiring an additional 5,784 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of UFP Industries by 22.7% in the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock worth $67,594,000 after acquiring an additional 112,518 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its holdings in shares of UFP Industries by 1.0% in the 3rd quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company’s stock worth $71,667,000 after acquiring an additional 5,515 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

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.