UFP Industries, Inc. (NASDAQ:UFPI) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 41.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 226,109 shares of the construction company’s stock after buying an additional 66,712 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.37% of UFP Industries worth $24,203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UFPI. GAMMA Investing LLC lifted its holdings in UFP Industries by 107.5% during the first quarter. GAMMA Investing LLC now owns 1,500 shares of the construction company’s stock valued at $161,000 after purchasing an additional 777 shares in the last quarter. KBC Group NV lifted its holdings in UFP Industries by 15.8% during the first quarter. KBC Group NV now owns 2,836 shares of the construction company’s stock valued at $304,000 after purchasing an additional 386 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in UFP Industries during the first quarter valued at $1,534,000. Park Avenue Securities LLC lifted its holdings in UFP Industries by 6.5% during the first quarter. Park Avenue Securities LLC now owns 2,221 shares of the construction company’s stock valued at $238,000 after purchasing an additional 136 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in UFP Industries by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 7,115 shares of the construction company’s stock valued at $761,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $103.74 on Friday. The company’s 50-day moving average price is $100.31 and its 200-day moving average price is $105.81. The company has a current ratio of 4.96, a quick ratio of 3.44 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.27 billion, a P/E ratio of 16.98 and a beta of 1.47. UFP Industries, Inc. has a twelve month low of $93.00 and a twelve month high of $141.33.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, April 28th. The construction company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.27). The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.61 billion. UFP Industries had a return on equity of 11.78% and a net margin of 5.64%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 earnings per share. On average, sell-side analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Loop Capital assumed coverage on shares of UFP Industries in a report on Wednesday. They set a “hold” rating and a $112.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, UFP Industries has a consensus rating of “Moderate Buy” and a consensus target price of $136.80.

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.