|Over a week ago|
UFP Industries reports Q4 EPS 61c, consensus 59c » 16:2002/1902/19/20
Reports Q4 revenue $998M,…
Reports Q4 revenue $998M, consensus $1.01B. "The hard-working employees of UFP Industries marked our 65th year in business by producing the best fourth quarter and year in our history," stated CEO Matthew J. Missad. "Our record profitability is the result of increased unit sales, our ability to leverage fixed costs, and increased sales of our higher-margin, value-added products, which continue to comprise a greater portion of our product mix. We also generated record operating cash flow, allowing us to fund our strategic growth initiatives, further strengthen our balance sheet and return even more capital to our shareholders."
UFP Industries initiated with a Neutral at Wedbush » 16:1902/1302/13/20
Wedbush analyst Jay…
Wedbush analyst Jay McCanless initiated coverage of UFP Industries with a Neutral rating and $52 price target.
UFP Industries switches dividend frequency, increases dividend 25% » 13:2802/0302/03/20
On January 30, the board…
On January 30, the board of UFP Industries, formerly Universal Forest Products, approved changing the frequency of its dividend payments from semi-annual to quarterly. The board also approved a quarterly cash dividend of 12.5c a share payable on March 15 to shareholders of record on March 1. This quarterly dividend represents a prorated 25% increase over the dividend paid in December 2019.
|Over a month ago|
UFP Industries reinstated with a Neutral at Sidoti » 13:5901/0701/07/20
Sidoti reinstated coverage of UFP Industries with a Neutral rating and $56 price target.
Universal Forest Products completes reorganization name now UFP Industries » 14:0901/0201/02/20
Universal Forest Products…
Universal Forest Products announced it has completed the reorganization of its operations and is now operating as UFP Industries, a change announced in August 2019. The name UFP Industries more accurately describes the company today. "We are not just a forest products or wood company anymore," said CEO Matthew J. Missad. "Over the years, we have evolved from a lumber wholesaler to a mixed materials manufacturer and solutions provider serving thousands of business customers. Our new segments -- UFP Retail, UFP Construction and UFP Industrial -- will be much more focused on their individual markets, and with the leadership teams now in position, we expect more speed to market, better product and customer alignment and more efficient capital utilization. "It's a truly exciting time for us, as we unleash the full power of our people to execute on our opportunities and grow our company." UFP Industries has approximately 170 locations and 14,000 employees around the world. Prior to the reorganization, UFP affiliates were organized by region; now they are organized by market. The company will seek shareholder approval for the change to its corporate name at its next annual meeting of shareholders in April 2020 and will continue to trade on the NASDAQ exchange under the UFPI ticker symbol.
|Over a quarter ago|
Universal Forest price target raised to $44 from $38 at BMO Capital » 09:1310/2810/28/19
BMO Capital analyst Ketan…
BMO Capital analyst Ketan Mamtora raised his price target on Universal Forest to $44 after its "solid" Q3 results and "encouraging" earnings call tone. The analyst says the company's organic volumes "grew nicely" with share gains in decking products, adding that its balance sheet is also strong and adds "financial flexibility". Mamtora sees Universal Forest as a well-run building company, also raising his FY19 EPS view by 11c to $2.87, but believes its valuation is "relatively full" at current levels.
Universal Forest price target raised to $55 from $47 at DA Davidson » 08:0610/2510/25/19
DA Davidson analyst…
DA Davidson analyst Steven Chercover raised his price target on Universal Forest to $55 and kept his Buy rating after its "better than expected" Q3 earnings, even though revenue underperformed on a "more meaningful" price deflation. The analyst notes that the company's organic volume growth of 6% was still "robust" and he sees the stock offering an "attractive per unit profitability improvement". Chercover also raises his FY19 and FY20 EPS views by 6c and 26c to $2.92 and $3.50 respectively.
Universal Forest reports Q3 EPS 84c, consensus 76c » 16:1710/2310/23/19
Reports Q3 revenue…
Reports Q3 revenue $1.16B, consensus $1.18B. "Our record results are the reflection of the hard work of our employees and the successful execution of our strategies to grow and improve our business. Our growth in organic unit sales was very strong, and we continue to successfully add new, value-added products and services to our offerings that are improving our profitabilty," said CEO Matthew Missad.
Universal Forest acquires Pallet USA » 16:0609/1609/16/19
Universal Forest Products…
Universal Forest Products announced that one of its affiliates has acquired Hartford, Wisconsin-based Pallet USA. The acquisition expands Universal's industrial product capacity and services in the Midwest. Pallet USA operates one facility that manufactures pallets and crates. The company also distributes industrial lumber and sheet stock and provides services such as heat treating, pallet removal and recycling, custom product design, delivery and managed inventory programs. Bruce Church, president and CEO of Pallet USA, will remain with the operation as general manager of operations through 2019, then transition into a consulting role to assist with new sales efforts to national customers.
Universal Forest acquires Northwest Painting, terms not disclosed » 07:3708/1408/14/19
Universal Forest Products…
Universal Forest Products announced that one of its affiliates has acquired the operating assets of Northwest Painting, Inc. and its affiliates, doing business as Northwest Factory Finishes in Bonner, Montana, and as Pacific Northwest Factory Finishes in White City, Oregon. The move will expand Universal's capacity to produce value-added siding and trim for customers in its Northwest and Mountain West regions. Founded in 1992 in Missoula, Montana, by Britt Fred, Northwest Painting is a supplier of pre-painted building materials, including composite lap siding, soffit, panels and trim, to the Western U.S. The company has manufacturing facilities in Bonner and White City, and anticipated annual sales of about $14M. Fred, owner and president of Northwest, will remain with the company as president of Northwest.