Ausbil Investment Management Ltd Takes Position in UFP Industries, Inc. (NASDAQ:UFPI)

Ausbil Investment Management Ltd purchased a new position in UFP Industries, Inc. (NASDAQ:UFPI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,652 shares of the construction company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in shares of UFP Industries during the 4th quarter worth approximately $201,000. Wealth Enhancement Advisory Services LLC lifted its holdings in UFP Industries by 49.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,999 shares of the construction company’s stock valued at $1,353,000 after purchasing an additional 3,657 shares during the last quarter. AlphaMark Advisors LLC acquired a new position in UFP Industries in the first quarter valued at about $298,000. State of Michigan Retirement System boosted its position in UFP Industries by 2.7% in the first quarter. State of Michigan Retirement System now owns 15,200 shares of the construction company’s stock valued at $1,870,000 after buying an additional 400 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC increased its holdings in shares of UFP Industries by 6.8% during the first quarter. Measured Wealth Private Client Group LLC now owns 4,391 shares of the construction company’s stock worth $540,000 after buying an additional 280 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

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

UFP Industries Trading Up 0.4 %

Shares of UFPI traded up $0.49 during trading hours on Thursday, hitting $130.49. 33,673 shares of the stock traded hands, compared to its average volume of 278,940. The business has a fifty day moving average of $126.07 and a 200-day moving average of $120.18. The firm has a market capitalization of $7.95 billion, a PE ratio of 16.82 and a beta of 1.39. UFP Industries, Inc. has a 1-year low of $90.62 and a 1-year high of $139.54. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07.

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

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.