Assenagon Asset Management S.A. Decreases Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Assenagon Asset Management S.A. lowered its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 84.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,297 shares of the construction company’s stock after selling 170,827 shares during the quarter. Assenagon Asset Management S.A.’s holdings in UFP Industries were worth $3,526,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in UFP Industries by 31.8% in the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after buying an additional 76 shares during the period. Kingsview Wealth Management LLC raised its holdings in shares of UFP Industries by 1.8% during the third quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock valued at $822,000 after acquiring an additional 113 shares in the last quarter. GAMMA Investing LLC lifted its stake in UFP Industries by 25.8% in the third quarter. GAMMA Investing LLC now owns 644 shares of the construction company’s stock worth $84,000 after acquiring an additional 132 shares during the period. UMB Bank n.a. boosted its holdings in UFP Industries by 300.0% in the third quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock valued at $25,000 after acquiring an additional 144 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in UFP Industries by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,185 shares of the construction company’s stock valued at $805,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Up 1.3 %

Shares of UFP Industries stock opened at $118.28 on Wednesday. The company has a 50-day simple moving average of $122.47 and a two-hundred day simple moving average of $124.02. The stock has a market capitalization of $7.18 billion, a PE ratio of 16.27 and a beta of 1.45. UFP Industries, Inc. has a 52-week low of $107.25 and a 52-week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.25). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company posted $2.10 earnings per share. On average, analysts anticipate that UFP Industries, Inc. will post 6.88 EPS for the current fiscal year.

Insider Activity

In other UFP Industries news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the sale, the director now owns 61,140 shares of the company’s stock, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wedbush restated an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. StockNews.com upgraded UFP Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, UFP Industries presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

About UFP Industries

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.