Ufp Industries Inc Stock Price, News & Analysis

UFP Industries (Nasdaq: UFPI) has acquired Advantage Label & Packaging, Inc. for approximately $16 million, including $2.9 million for real estate and up to $4.5 million in performance-based incentives. Founded in 1996, Advantage Label specializes in industrial labeling solutions, generating about $19.8 million in sales over the last 12 months. This acquisition enhances UFP's industrial packaging capabilities, strategically positioning the company to capture growth in packaging and tracking markets. Advantage Label's existing management will continue under UFP, aiming to expand capacity and reach.

UFP Industries (Nasdaq: UFPI) announced its acquisition of a 70% stake in Ficus Pax Private Limited for approximately $13.5 million USD. Ficus Pax, based in Bangalore, India, is a leader in industrial packaging with trailing sales of about $39 million USD through August 2021. This acquisition aims to strengthen UFP's market presence in India, a key area for international expansion, enhancing Ficus Pax's operational capabilities through additional investment and support. Sandeep Wadhwa will lead the consolidated group as managing director.

UFP Industries announced the acquisition of The Box Pack Trust, operating as Boxpack Packaging, enhancing its industrial packaging product range. Based in Melbourne, Boxpack specializes in high-value cardboard packaging, reporting annual sales of $8.2 million AUD as of June 30, 2021. The acquisition enables UBEECO to provide a comprehensive suite of packaging solutions across various industries, including food and beverage and pharmaceuticals. Company founder Andrew Moloney will assist in the transition, aiming to expand geographic reach and customer base in Australia.

UFP Industries reported a 41% increase in net sales to $2.1 billion and a 57% rise in earnings to $121 million for Q3 2021. EPS also rose to $1.93 from $1.25. The company announced a 33% dividend hike to $0.20 per share, to be paid on December 15, 2021. Key drivers included a 28% rise in selling prices and a 16% increase from acquisitions, though organic unit sales dropped by 3%. UFP's adjusted EBITDA grew by 49% to $187.5 million, with a solid liquidity position of approximately $668 million, despite increased seasonal working capital investments.

UFP Industries (Nasdaq: UFPI) announced the acquisition of Shelter Products, Inc. for $6.5 million. This strategic move is expected to enhance UFP's distribution capabilities in the manufactured housing market, with Shelter Products generating sales of $11.4 million in 2020. The acquisition will enhance synergies due to proximity to a UFP manufacturing facility. Patrick Benton, president of UFP Construction, emphasized the growing demand for affordable housing and noted that this acquisition aligns with UFP's focus on individual markets. Stephen Sampson will remain involved during the transition.

UFP Industries (Nasdaq: UFPI) has announced a quarterly dividend of $0.15 per share, reflecting a 20% increase from 2020. This dividend is payable on September 15, 2021, to shareholders of record by September 1, 2021. The decision follows record net sales, net earnings, and earnings per share for Q2 2021, marking the best quarter in the company’s history. Chairman William G. Currie expressed confidence in the company's growth and liquidity, indicating prospects for enhanced returns for shareholders.

UFP Industries reported record net sales of $2.7 billion for Q2 2021, a 117% increase year-over-year, with earnings rising 161% to $173 million. This growth was driven by a 70% increase in selling prices, with acquisitions contributing $455 million to sales. The EPS rose to $2.78 from $1.08. Despite challenges from lumber price fluctuations, effective inventory management and a diversified business model helped mitigate impacts. SG&A expenses grew by 62% largely due to acquisitions, but improved as a percentage of gross profit from 56% to 44%.

UFP Industries (Nasdaq: UFPI) announced the acquisition of Endurable Building Products, a significant player in manufacturing customized structural aluminum systems, for $15 million in sales in 2020. This acquisition will enhance UFP's offerings in prefabricated aluminum products, targeting multifamily construction markets. UFP Construction's president, Patrick Benton, highlighted the strategic importance of this move in strengthening relationships with existing customers and expanding product services. Endurable's leadership will remain intact to facilitate growth.

UFP Industries (Nasdaq: UFPI) has approved a quarterly dividend of $0.15 per share, reflecting a 20% increase over 2020. This dividend will be paid on June 15, 2021, to shareholders of record on June 1, 2021. The decision stems from the company's outstanding first-quarter performance, achieving record sales, net earnings, and earnings per share. Chairman William G. Currie expressed confidence in future earnings, highlighting the company's robust strategic plan and talented workforce.