UFP Industries, Inc. (NASDAQ:UFPI) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC cut its position in UFP Industries, Inc. (NASDAQ:UFPI) by 16.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,071 shares of the construction company’s stock after selling 1,191 shares during the period. Legacy Wealth Asset Management LLC’s holdings in UFP Industries were worth $797,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Foundry Partners LLC increased its holdings in UFP Industries by 13.1% in the 1st quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock worth $4,811,000 after buying an additional 4,526 shares during the period. Nordea Investment Management AB increased its stake in shares of UFP Industries by 28.6% in the first quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock worth $14,150,000 after acquiring an additional 25,508 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of UFP Industries by 299.5% during the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after purchasing an additional 4,597 shares during the last quarter. Acadian Asset Management LLC acquired a new position in UFP Industries during the first quarter valued at $1,214,000. Finally, Empowered Funds LLC boosted its holdings in UFP Industries by 14.9% in the first quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after purchasing an additional 7,320 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Trading Down 0.5 %

Shares of NASDAQ:UFPI opened at $130.17 on Friday. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 16.19 and a beta of 1.39. The business’s 50 day moving average price is $126.49 and its 200-day moving average price is $120.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. UFP Industries, Inc. has a 1 year low of $90.62 and a 1 year high of $139.54.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $2.36 EPS. UFP Industries’s revenue was down 6.9% compared to the same quarter last year. On average, equities research analysts forecast that UFP Industries, Inc. will post 7.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

UFP Industries 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.