UFP Industries, Inc. (NASDAQ:UFPI) Declares Quarterly Dividend of $0.35

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 0.35 per share by the construction company on Monday, March 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, March 3rd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33.

UFP Industries has increased its dividend by an average of 26.6% per year over the last three years. UFP Industries has a dividend payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect UFP Industries to earn $7.42 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 17.8%.

UFP Industries Price Performance

Shares of NASDAQ UFPI traded down $1.90 during midday trading on Tuesday, reaching $114.45. 403,030 shares of the company traded hands, compared to its average volume of 284,825. The firm has a market cap of $6.95 billion, a PE ratio of 15.74 and a beta of 1.45. The stock’s 50-day simple moving average is $116.17 and its 200-day simple moving average is $123.30. UFP Industries has a 12 month low of $107.25 and a 12 month high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31.

Insider Activity at UFP Industries

In related news, Director William G. Currie sold 5,700 shares of UFP Industries 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 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 filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Missad sold 15,000 shares of UFP Industries stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

UFPI has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. StockNews.com raised UFP Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.