UFP Industries, Inc., through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages. It also provides pallets, specialty crates, wooden boxes, and other containers and products that are used for packaging, shipping, and material handling applications; designs, manufactures, and installs interior fixtures that are used in retail and commercial structures; and provides lumber cut and shaped, plywood, oriented strand board, and dimensional lumber products for use in the construction of manufactured housings. In addition, the company supplies siding, electrical, and plumbing products to manufactured housing and recreational vehicle customers; and wood forms and related products to set or form concrete for various structures, such as parking garages, stadiums, and bridges. Further, it provides framing services; and specialty wood packaging, components, and packing materials for various industries. The company primarily sells its products under the roWood, Deckorators, UFP-Edge, Outdoor Essentials, Dimensions, and ProWood FR trademarks. The company was formerly known as Universal Forest Products, Inc. and changed its name to UFP Industries, Inc. in April 2020. UFP Industries, Inc. was founded in 1955 and is headquartered in Grand Rapids, Michigan.
IPO Year: 1993
Exchange: NASDAQ
Website: ufpi.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/1/2023 | $122.00 → $106.00 | Buy → Neutral | DA Davidson |
| 7/26/2021 | $76.00 → $82.00 | Market Perform | BMO Capital |
| 7/19/2021 | $93.00 | Neutral → Buy | Sidoti |
UFP Industries (NASDAQ:UFPI) today announced that management will participate in the 54th annual Global Industrial Conference hosted by Baird at the Ritz-Carlton in Chicago on November 12-14, 2024. To find additional information about UFP Industries, including the most recent investor presentation, please visit ufpinvestor.com. UFP Industries, Inc. UFP Industries, Inc. is a holding company whose operating subsidiaries – UFP Packaging, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headq
UFP Industries, Inc. (NASDAQ:UFPI) today announced third quarter 2024 results including net sales of $1.65 billion, net earnings attributable to controlling interest of $100 million, and earnings per diluted share of $1.64. "Our third quarter results were impacted by softer demand and broad-based pricing pressure which reduced our revenue and profit margins. We are managing through these ongoing challenges by operating more efficiently, aligning our overhead with lower demand levels and eliminating unnecessary costs. I am confident our teammates will respond appropriately to the changing economy while enhancing the pursuit of our strategic priorities. While we expect conditions to remain c
Replaces Will Schwartz, who was recently named CEO of UFP Industries UFP Industries, Inc. (NASDAQ:UFPI) today announced that Landon Tarvin has been selected to replace Will Schwartz as president of UFP Retail Solutions, effective December 29, 2024. UFP Retail Solutions is a business segment of UFP Industries that produces ProWood pressure-treated lumber, Deckorators composite decking and accessories, UFP-Edge siding and trim products, and Outdoor Essentials fence and garden products. Landon currently serves as vice president of Deckorators. "We had many internal candidates who were qualified for this role, making it a difficult decision," said Will Schwartz, who will replace Matt Missad a
UFP Industries, Inc. (NASDAQ:UFPI) today announced that Stanley Elliott has joined the company as director of investor relations. Stanley will begin assuming the IR duties currently overseen by Dick Gauthier, who will retire at the end of 2024 after 40 years with the company. Stanley joins UFP Industries from Stifel Financial Corporation, a multinational wealth management and investment banking firm, where he served as managing director on Stifel's equity research platform. He joined Stifel in 2006, supporting the research of the home furnishings and building materials industries. In 2011 he launched coverage on the industrial space and served as managing director of the diversified indust
After more than 13 years of transformational leadership and as part of a planned succession strategy, UFP Industries Chairman and CEO Matthew J. Missad announced he will take on a new role to prepare the next generation of leadership and usher in a new era of growth for the company. On December 29, 2024, the start of the new fiscal year, Missad will become executive chairman and William "Will" Schwartz, current president of the company's retail business unit, will become the Chief Executive Officer. Chief Financial Officer Michael Cole will add the title of President of Corporate Services to his current duties to further strengthen the management team. "Throughout his impressive career at
UFP Industries, Inc. (NASDAQ:UFPI) today announced second quarter 2024 results including net sales of $1.9 billion, net earnings attributable to controlling interest of $126 million, and earnings per diluted share of $2.05. "Our second quarter results were in line with expectations in a more challenging business cycle, and I am grateful for the efforts of all of our UFP teammates to adapt to this environment and adjust capacity to meet demand," said Chairman and CEO Matthew J. Missad. "The weaker environment and expected near-term softness in demand have enabled us to more aggressively pursue our long-term expansion plans and improvement strategies. These efforts include investments in au
MICHIGAN CITY, Ind., July 17, 2024 (GLOBE NEWSWIRE) -- (NASDAQ GS: HBNC) Horizon Bancorp, Inc. ("Horizon" or the "Company") announced the appointments on June 18, 2024 of Michele A. Samuels and Brian C. Walker to serve as independent directors on the Board of its wholly owned subsidiary, Horizon Bank. Samuels is Senior Vice President, General Auditor & Compliance Officer at Blue Cross Blue Shield of Michigan (BCBSM), headquartered in Detroit. She joined BCBSM in 1990 and has served in her current role since 2009, leading a team of over 100 audit, compliance, and investigative assurance and advisory services at one of the largest Blues affiliates in the United States with more than $30 bil
UFP Industries, Inc. (NASDAQ:UFPI) has been named to the FORTUNE 500 list of the largest U.S. companies based on revenue for the third consecutive year. "I'm grateful to our customers and our 15,000-plus teammates who work every day to create success, in spite of economic challenges," said Chairman and CEO Matthew J. Missad. "Their efforts have fueled our transformation from a small lumber wholesaler to a global solutions provider, with a track record of providing strong returns on our invested capital. Our teammates have earned this recognition and are dedicated to making our company better so we can climb up the list." UFP Industries reported 2023 net sales of $7.2 billion. It is rank
UFP Industries (NASDAQ:UFPI) today announced that management will participate in the Stifel Cross Sector Insight Conference at the InterContinental Boston in Boston, Massachusetts, on June 4-5, 2024. To find additional information about UFP Industries, including the most recent investor presentation, please visit ufpinvestor.com. UFP Industries, Inc. UFP Industries, Inc. is a holding company whose operating subsidiaries – UFP Packaging, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is
UFP Industries, Inc. (NASDAQ:UFPI) today announced first quarter 2024 results including net sales of $1.64 billion, net earnings attributable to controlling interests of $121 million, and earnings per diluted share of $1.96. "We would like to credit our hard-working team and our balanced business model for allowing us to achieve first-quarter results that were in line with expectations," said Chairman and CEO Matthew J. Missad. "As demand returns to more normalized levels, we are increasingly focused on improving our operational efficiencies by investing in automation and technology while consolidating operations where opportunities exist. We are also investing in growth through new produ
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MICHIGAN CITY, Ind., July 17, 2024 (GLOBE NEWSWIRE) -- (NASDAQ GS: HBNC) Horizon Bancorp, Inc. ("Horizon" or the "Company") announced the appointments on June 18, 2024 of Michele A. Samuels and Brian C. Walker to serve as independent directors on the Board of its wholly owned subsidiary, Horizon Bank. Samuels is Senior Vice President, General Auditor & Compliance Officer at Blue Cross Blue Shield of Michigan (BCBSM), headquartered in Detroit. She joined BCBSM in 1990 and has served in her current role since 2009, leading a team of over 100 audit, compliance, and investigative assurance and advisory services at one of the largest Blues affiliates in the United States with more than $30 bil
UFP Global Holdings Ltd., a subsidiary of UFP Industries, Inc. (NASDAQ:UFPI), has acquired 80 percent of the equity in a newly formed company, UFP Palets y Embalajes SL, for approximately $52 million USD. UFP Palets is comprised of the former pallet manufacturing operations of Palets Suller SL, Serrería y Palets Chiva SL and Drevex Castellón SL, collectively known as Palets Suller Group. The company had trailing 12-month sales of approximately $38 million USD through August 2023. Headquartered in Castellón, Spain, Palets Suller is the market leader in machine-built wood pallets, serving the region's ceramic tile industry as well as other industries. Spain is one of the largest ceramic til
GRAND RAPIDS, Mich., Sept. 06, 2022 (GLOBE NEWSWIRE) -- UFP Industries (NASDAQ:UFPI) today announced the appointment of Allen Peters to executive vice president of innovation, effective January 1, 2023. Allen's new duties will include leading UFP's Innovation Accelerator and Innov8 Fund teams. He will also use his unique experience as president of UFP Retail Solutions to drive the ambitious new products and technology push necessary for rapid iterative changes through the organization. "After 24 years of managing operations and sales, I am excited to use my experience to discover new opportunities and execute the strategies of our innovation teams," said Allen. "I am ready to help shape t
UFP Industries, Inc. (NASDAQ:UFPI) today announced third quarter 2024 results including net sales of $1.65 billion, net earnings attributable to controlling interest of $100 million, and earnings per diluted share of $1.64. "Our third quarter results were impacted by softer demand and broad-based pricing pressure which reduced our revenue and profit margins. We are managing through these ongoing challenges by operating more efficiently, aligning our overhead with lower demand levels and eliminating unnecessary costs. I am confident our teammates will respond appropriately to the changing economy while enhancing the pursuit of our strategic priorities. While we expect conditions to remain c
UFP Industries, Inc. (NASDAQ:UFPI) today announced second quarter 2024 results including net sales of $1.9 billion, net earnings attributable to controlling interest of $126 million, and earnings per diluted share of $2.05. "Our second quarter results were in line with expectations in a more challenging business cycle, and I am grateful for the efforts of all of our UFP teammates to adapt to this environment and adjust capacity to meet demand," said Chairman and CEO Matthew J. Missad. "The weaker environment and expected near-term softness in demand have enabled us to more aggressively pursue our long-term expansion plans and improvement strategies. These efforts include investments in au
UFP Industries, Inc. (NASDAQ:UFPI) today announced first quarter 2024 results including net sales of $1.64 billion, net earnings attributable to controlling interests of $121 million, and earnings per diluted share of $1.96. "We would like to credit our hard-working team and our balanced business model for allowing us to achieve first-quarter results that were in line with expectations," said Chairman and CEO Matthew J. Missad. "As demand returns to more normalized levels, we are increasingly focused on improving our operational efficiencies by investing in automation and technology while consolidating operations where opportunities exist. We are also investing in growth through new produ
Raising long-term goals for unit growth and profitability UFP Industries, Inc. (NASDAQ:UFPI) today announced net sales of $1.5 billion, net earnings attributable to controlling interest of $103 million, and earnings per diluted share of $1.62 for the fourth quarter of 2023. The company also announced net sales of $7.2 billion and earnings per diluted share of $8.07 for fiscal 2023. Fiscal 2023 results reflect the impact of one less week compared to fiscal 2022. "Our teammates produced solid results in 2023 and built the foundation for future growth in sales and profits," said Chairman and CEO Matthew J. Missad. "Our operating margins and robust cash flow continue to surpass historic lev
- Dividend represents a 10 percent increase over the December 2023 dividend - On February 1, 2024, the Board of Directors of UFP Industries, Inc. (NASDAQ:UFPI) approved a quarterly dividend payment of $0.33 per share, a 10 percent increase over the quarterly dividend of $0.30 per share paid in December 2023 and a 32 percent increase over the quarterly dividend of $0.25 per share paid in March 2023. The dividend is payable on March 15, 2024, to shareholders of record on March 1, 2024. This will mark the twelfth consecutive year in which UFP's dividend has increased. "This increased dividend reflects our strong and consistent performance, and the confidence we have in our growth strategie
Operating Margins Remain Historically Strong UFP Industries, Inc. (NASDAQ:UFPI) today announced third quarter 2023 results including net sales of $1.8 billion, net earnings attributable to controlling interests of $134 million, and earnings per diluted share of $2.10. "This quarter once again demonstrated that our balanced business model, management structure, and focus on value-added products have produced structural improvements in our operating margins that have normalized above pre-pandemic levels," said Chairman and CEO Matthew J. Missad. "We are well-positioned for success and will continue to invest our cash surplus and robust cash flow to grow our business and generate high retu
Net sales exceed $2 billion, diluted EPS of $2.36 UFP Industries, Inc. (NASDAQ:UFPI) today announced second quarter 2023 results including net sales of $2.04 billion, net earnings attributable to controlling interest of $151 million, and earnings per diluted share of $2.36. "I want to thank the hard-working employees of UFP Industries for delivering another strong quarter. Their focus on innovation, efficiencies, and value-added solutions has helped us improve our gross margins, even as lower pricing and volume resulted in decreases in our top- and bottom-line results," said Chairman and CEO Matt Missad. "The positive changes in our business mix and operating structure are producing bet
Net sales of $1.82 billion, diluted EPS of $1.98 UFP Industries, Inc. (NASDAQ:UFPI) today announced first quarter 2023 results including net sales of $1.82 billion, net earnings attributable to controlling interest of $126 million, and earnings per diluted share of $1.98. "Given the softer economy and general uncertainty in the markets, these results are in line with our expectations and, in some instances, better than we anticipated, thanks to the hard work of our UFP teammates," said Chairman and CEO Matthew J. Missad. "Our experienced team continues to provide excellent value to our customers while efficiently managing the business with a determination to deliver strong results for o
Full year net sales increase 11 percent and earnings per share increase 28 percent UFP Industries, Inc. (NASDAQ:UFPI) today announced net sales of $1.9 billion, net earnings attributable to controlling interest of $133 million, and earnings per diluted share of $2.10 for the fourth quarter of 2022. The company also announced a record $9.6 billion in net sales for fiscal 2022, an 11 percent increase over 2021, and record 2022 earnings per diluted share of $10.97, a 28 percent increase over the previous year. "As we celebrate record results for 2022, we also turn toward a cooling housing market and softening economy with determination and conviction," said Chairman and CEO Matthew J. Missad
- Dividend represents a 25 percent increase over the dividend paid in March 2022 - On February 3, 2023, the Board of Directors of UFP Industries, Inc. (NASDAQ:UFPI) approved a quarterly dividend payment of $0.25 per share, a 25 percent increase over the quarterly dividend of $0.20 per share paid in March 2022. The dividend is payable on March 15, 2023, to shareholders of record on March 1, 2023. "This enhanced dividend reflects our strong performance and the confidence we have in our growth strategy and balanced business model, which serves many diverse yet complementary markets," said Chairman and CEO Matthew J. Missad. "Our strong cash flow not only allows us to invest in growing UFP In
DA Davidson downgraded UFP Industries from Buy to Neutral and set a new price target of $106.00 from $122.00 previously
BMO Capital reiterated coverage of UFP Industries with a rating of Market Perform and set a new price target of $82.00 from $76.00 previously
Sidoti upgraded UFP Industries from Neutral to Buy and set a new price target of $93.00
Wedbush reiterated coverage of UFP Industries with a rating of Neutral and set a new price target of $85.00 from $75.00 previously
Stifel resumed coverage of UFP Industries with a rating of Buy and set a new price target of $75.00
Stifel Nicolaus initiated coverage of UFP Industries with a rating of Buy
BMO Capital Markets reiterated coverage of UFP Industries with a rating of and set a new price target of $66.00 from $57.00 previously
DA Davidson reiterated coverage of UFP Industries with a rating of Buy and set a new price target of $75.00 from $67.00 previously
UFP Industries's (NYSE:UFPI) short percent of float has fallen 18.18% since its last report. The company recently reported that it has 646 thousand shares sold short, which is 1.44% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.95 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short intere
During the last three months, 4 analysts shared their evaluations of UFP Industries (NASDAQ:UFPI), revealing diverse outlooks from bullish to bearish. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 0 1 0 0 Last 30D 1 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 2 0 1 0 0 Analysts have recently evaluated UFP Industries and provided 12-month price targets. The average target is $124.25, accompanied by a high estimate of $137.00 and a low estimate of $102.00. Surpassing the previous average
Benchmark analyst Reuben Garner maintains UFP Industries (NASDAQ:UFPI) with a Buy and lowers the price target from $137 to $133.
UFP Industries (NASDAQ:UFPI) reported quarterly earnings of $1.96 per share which beat the analyst consensus estimate of $1.66 by 18.07 percent. The company reported quarterly sales of $1.639 billion which missed the analyst consensus estimate of $1.707 billion by 3.99 percent. This is a 10.04 percent decrease over sales of $1.822 billion the same period last year.
UFP Industries's (NYSE:UFPI) short percent of float has fallen 12.96% since its last report. The company recently reported that it has 837 thousand shares sold short, which is 1.88% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.21 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short intere
UFP Industries (NASDAQ:UFPI) has outperformed the market over the past 15 years by 4.5% on an annualized basis producing an average annual return of 17.03%. Currently, UFP Industries has a market capitalization of $6.94 billion. Buying $1000 In UFPI: If an investor had bought $1000 of UFPI stock 15 years ago, it would be worth $10,235.93 today based on a price of $112.80 for UFPI at the time of writing. UFP Industries's Performance Over Last 15 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated c
UFP Industries (NASDAQ:UFPI) has outperformed the market over the past 10 years by 10.05% on an annualized basis producing an average annual return of 20.79%. Currently, UFP Industries has a market capitalization of $7.57 billion. Buying $100 In UFPI: If an investor had bought $100 of UFPI stock 10 years ago, it would be worth $646.17 today based on a price of $123.01 for UFPI at the time of writing. UFP Industries's Performance Over Last 10 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated cont
UFP Industries's (NYSE:UFPI) short percent of float has risen 25.27% since its last report. The company recently reported that it has 949 thousand shares sold short, which is 2.28% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.88 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interes