Assenagon Asset Management S.A. Grows Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Assenagon Asset Management S.A. grew its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 216.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,124 shares of the construction company's stock after buying an additional 138,215 shares during the quarter. Assenagon Asset Management S.A. owned 0.33% of UFP Industries worth $26,521,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Foundry Partners LLC raised its position in UFP Industries by 13.1% during the first quarter. Foundry Partners LLC now owns 39,107 shares of the construction company's stock worth $4,811,000 after acquiring an additional 4,526 shares during the last quarter. Nordea Investment Management AB lifted its stake in UFP Industries by 28.6% in the 1st quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company's stock valued at $14,150,000 after buying an additional 25,508 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in UFP Industries by 299.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company's stock valued at $687,000 after buying an additional 4,597 shares during the last quarter. Acadian Asset Management LLC purchased a new position in UFP Industries during the first quarter worth $1,214,000. Finally, Empowered Funds LLC raised its holdings in shares of UFP Industries by 14.9% in the first quarter. Empowered Funds LLC now owns 56,562 shares of the construction company's stock worth $6,958,000 after acquiring an additional 7,320 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Benchmark increased their price objective on UFP Industries from $133.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of UFP Industries from a "strong-buy" rating to a "buy" rating in a report on Friday, July 5th. Wedbush raised shares of UFP Industries from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $120.00 to $155.00 in a research report on Tuesday, October 8th. Stifel Nicolaus raised their target price on shares of UFP Industries from $125.00 to $157.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets lifted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, UFP Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.60.

UFP Industries Trading Down 0.5 %

UFPI stock traded down $0.64 on Friday, hitting $130.17. 150,730 shares of the company were exchanged, compared to its average volume of 279,104. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 16.19 and a beta of 1.39. UFP Industries, Inc. has a twelve month low of $90.62 and a twelve month high of $139.54. The business's fifty day moving average is $126.49 and its two-hundred day moving average is $120.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm posted $2.36 EPS. The business's revenue for the quarter was down 6.9% on a year-over-year basis. As a group, research analysts forecast that UFP Industries, Inc. will post 7.29 earnings per share for the current year.

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.