Assenagon Asset Management S.A. Has $26.52 Million Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Assenagon Asset Management S.A. boosted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 216.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,124 shares of the construction company’s stock after purchasing an additional 138,215 shares during the quarter. Assenagon Asset Management S.A.’s holdings in UFP Industries were worth $26,521,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Foundry Partners LLC raised its position in shares of UFP Industries by 13.1% during the first quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock valued at $4,811,000 after buying an additional 4,526 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of UFP Industries by 28.6% in the 1st 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. grew its holdings in shares of UFP Industries by 299.5% during the 2nd 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 in the last quarter. Acadian Asset Management LLC acquired a new position in shares of UFP Industries in the first quarter valued at $1,214,000. Finally, Empowered Funds LLC boosted its stake in UFP Industries by 14.9% during the first quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock worth $6,958,000 after buying an additional 7,320 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $130.17 on Friday. 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 fifty-two week low of $90.62 and a fifty-two week high of $139.54. The business has a 50-day moving average of $126.49 and a 200-day moving average of $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 (NASDAQ:UFPI) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.36 earnings per share. As a group, sell-side analysts predict that UFP Industries, Inc. will post 7.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.