NorthCrest Asset Manangement LLC Buys 500 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

NorthCrest Asset Manangement LLC lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,300 shares of the construction company’s stock after buying an additional 500 shares during the period. NorthCrest Asset Manangement LLC’s holdings in UFP Industries were worth $2,401,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in UFP Industries by 0.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock worth $361,155,000 after acquiring an additional 28,601 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of UFP Industries by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock valued at $116,467,000 after purchasing an additional 32,555 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in UFP Industries by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after purchasing an additional 5,784 shares during the last quarter. AQR Capital Management LLC grew its position in UFP Industries by 22.7% in the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock worth $67,594,000 after purchasing an additional 112,518 shares in the last quarter. Finally, Copeland Capital Management LLC increased its stake in UFP Industries by 1.0% in the 3rd quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company’s stock valued at $71,667,000 after buying an additional 5,515 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

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

UFP Industries Stock Performance

Shares of UFPI opened at $130.17 on Friday. UFP Industries, Inc. has a 1 year low of $90.62 and a 1 year high of $139.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. The stock’s fifty day moving average price is $126.49 and its two-hundred day moving average price is $120.33. 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 announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.36 EPS. On average, equities research analysts forecast 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.