UFP Industries, Inc. (NASDAQ:UFPI) Increases Dividend to $0.35 Per Share

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) 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 annualized dividend and a yield of 1.29%. The ex-dividend date is Monday, March 3rd. This is an increase from UFP Industries's previous quarterly dividend of $0.33.

UFP Industries has increased its dividend by an average of 26.6% annually over the last three years. UFP Industries has a 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 traded down $1.29 during trading hours on Friday, hitting $108.55. The company's stock had a trading volume of 422,810 shares, compared to its average volume of 293,571. The stock has a fifty day simple moving average of $115.09 and a 200-day simple moving average of $123.09. The company has a market capitalization of $6.59 billion, a P/E ratio of 16.03 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. UFP Industries has a twelve month low of $107.25 and a twelve month high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). The business 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 13.24%. On average, analysts anticipate that UFP Industries will post 7.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William G. Currie sold 5,700 shares of UFP Industries 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 transaction, the director now directly owns 61,140 shares of the company's stock, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

UFPI has been the topic of several research analyst reports. Benchmark reaffirmed a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a research note on Wednesday. Wedbush reissued an "outperform" rating and set a $155.00 price target on shares of UFP Industries in a research note on Monday, November 4th. Finally, StockNews.com lowered UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Company Profile

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.