UFP Industries (NASDAQ:UFPI) Shares Gap Down After Earnings Miss

UFP Industries, Inc. (NASDAQ:UFPI - Get Free Report) gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $116.35, but opened at $113.00. UFP Industries shares last traded at $113.22, with a volume of 34,320 shares trading hands.

The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.35 dividend. This is a positive change from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.29%. The ex-dividend date is Monday, March 3rd. UFP Industries's dividend payout ratio (DPR) is currently 19.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on UFPI shares. StockNews.com lowered shares of UFP Industries from a "buy" rating to a "hold" rating in a report on Wednesday. Benchmark restated a "buy" rating and set a $135.00 price objective on shares of UFP Industries in a research report on Wednesday. Finally, Wedbush restated an "outperform" rating and set a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.00.

Insider Activity at UFP Industries

In other news, Director William G. Currie sold 5,700 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the sale, the director now owns 61,140 shares of the company's stock, valued at approximately $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On UFP Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in UFP Industries by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company's stock valued at $82,847,000 after buying an additional 60,859 shares during the period. Citigroup Inc. lifted its holdings in UFP Industries by 50.7% in the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company's stock valued at $15,670,000 after buying an additional 40,162 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in UFP Industries by 3.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock valued at $102,158,000 after buying an additional 31,381 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in UFP Industries by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company's stock valued at $101,011,000 after buying an additional 4,006 shares during the period. Finally, Seizert Capital Partners LLC grew its position in shares of UFP Industries by 85.5% during the 3rd quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company's stock worth $4,543,000 after buying an additional 15,958 shares during the period. Institutional investors and hedge funds own 81.81% of the company's stock.

UFP Industries Trading Down 1.2 %

The company has a market cap of $6.59 billion, a price-to-earnings ratio of 16.03 and a beta of 1.45. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average price is $114.73 and its 200 day moving average price is $123.03.

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.