Assenagon Asset Management S.A. Takes $1.05 Million Position in UFP Industries, Inc. $UFPI

Assenagon Asset Management S.A. bought a new stake in UFP Industries, Inc. (NASDAQ:UFPI) in the 1st quarter, HoldingsChannel reports. The firm bought 11,438 shares of the construction company’s stock, valued at approximately $1,054,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of UFP Industries by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,247,346 shares of the construction company’s stock valued at $114,980,000 after acquiring an additional 23,905 shares during the period. Numerai GP LLC purchased a new position in UFP Industries in the third quarter valued at $3,562,000. SG Americas Securities LLC boosted its stake in shares of UFP Industries by 454.4% in the 4th quarter. SG Americas Securities LLC now owns 21,499 shares of the construction company’s stock valued at $1,957,000 after buying an additional 17,621 shares during the period. Flagship Capital Management Inc. acquired a new position in shares of UFP Industries during the fourth quarter worth $1,550,000. Finally, Horizon Investments LLC acquired a new position in UFP Industries in the fourth quarter valued at approximately $1,120,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $89.19 on Friday. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a fifty-two week low of $77.89 and a fifty-two week high of $118.00. The stock has a market cap of $5.04 billion, a PE ratio of 19.47 and a beta of 1.22. The firm’s fifty day simple moving average is $85.28 and its 200-day simple moving average is $94.04.

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

UFP Industries Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a research report on Tuesday, May 5th. Benchmark lowered their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Stifel Nicolaus dropped their price target 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. Weiss Ratings cut shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $105.40.

UFP Industries 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.