Assenagon Asset Management S.A. Acquires New Shares in UFP Industries, Inc. $UFPI

Assenagon Asset Management S.A. purchased a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,438 shares of the construction company’s stock, valued at approximately $1,054,000.

Other large investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC increased its position in UFP Industries by 300.7% during the fourth quarter. Hsbc Holdings PLC now owns 21,424 shares of the construction company’s stock valued at $1,959,000 after acquiring an additional 16,077 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of UFP Industries by 101.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,063 shares of the construction company’s stock valued at $188,000 after buying an additional 1,037 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in UFP Industries by 222.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the construction company’s stock valued at $110,000 after acquiring an additional 835 shares during the last quarter. River Road Asset Management LLC lifted its position in shares of UFP Industries by 64.1% in the fourth quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock worth $80,118,000 after buying an additional 343,830 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of UFP Industries during the 4th quarter valued at approximately $334,000. Institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Up 0.0%

UFP Industries stock opened at $89.19 on Friday. The stock’s 50 day simple moving average is $85.28 and its two-hundred day simple moving average is $94.04. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 month high of $118.00. The firm has a market cap of $5.04 billion, a PE ratio of 19.47 and a beta of 1.22. The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm posted $1.30 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. Analysts anticipate that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.36 per share. The ex-dividend date was Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.6%. UFP Industries’s dividend payout ratio is currently 31.44%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on UFPI shares. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Stifel Nicolaus dropped their target price on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research note on Tuesday, May 5th. Weiss Ratings lowered UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Finally, DA Davidson lowered their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $105.40.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.