Legacy Wealth Asset Management LLC Sells 1,191 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Legacy Wealth Asset Management LLC decreased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 16.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. grew its holdings in UFP Industries by 300.0% during the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock valued at $25,000 after purchasing an additional 144 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of UFP Industries during the second quarter valued at approximately $29,000. Signaturefd LLC grew its stake in shares of UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after buying an additional 76 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of UFP Industries in the second quarter worth approximately $56,000. Finally, GAMMA Investing LLC raised its holdings in shares of UFP Industries by 84.2% in the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after buying an additional 234 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stifel Nicolaus upped their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Benchmark raised their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $120.00 to $155.00 in a report on Tuesday, October 8th. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Finally, 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 note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.60.

UFP Industries Stock Performance

Shares of UFPI opened at $130.17 on Friday. UFP Industries, Inc. has a 12 month low of $90.62 and a 12 month high of $139.54. The stock has a fifty day moving average price of $126.49 and a 200-day moving average price of $120.33. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07. The firm has a market cap of $8.04 billion, a PE ratio of 16.19 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The company’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.36 earnings per share. Equities research analysts predict that UFP Industries, Inc. will post 7.29 earnings per share for the current fiscal year.

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.