1,757 Shares in UFP Industries, Inc. (NASDAQ:UFPI) Purchased by Altus Wealth Group LLC

Altus Wealth Group LLC acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,757 shares of the construction company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after acquiring an additional 76 shares during the period. Copeland Capital Management LLC increased its position in shares of UFP Industries by 1.0% during the third quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company’s stock worth $71,667,000 after acquiring an additional 5,515 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of UFP Industries during the third quarter valued at approximately $70,000. Allspring Global Investments Holdings LLC boosted its stake 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. Finally, Vest Financial LLC boosted its stake in shares of UFP Industries by 19.0% during the third quarter. Vest Financial LLC now owns 11,382 shares of the construction company’s stock valued at $1,493,000 after purchasing an additional 1,820 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on UFPI. Stifel Nicolaus increased their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Benchmark increased their price objective on shares of 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 increased their price objective for the company from $120.00 to $155.00 in a research note on Tuesday, October 8th. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Finally, BMO Capital Markets raised their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company 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 given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.60.

UFP Industries Price Performance

Shares of UFPI stock traded down $0.14 on Wednesday, reaching $129.89. 16,138 shares of the company were exchanged, compared to its average volume of 278,678. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 16.82 and a beta of 1.39. The business has a 50-day moving average price of $125.82 and a 200 day moving average price of $120.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. UFP Industries, Inc. has a 1 year low of $90.62 and a 1 year high of $139.54.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $2.36 earnings per share. Equities research analysts forecast that UFP Industries, Inc. will post 7.29 earnings per share for the current fiscal year.

UFP Industries Company 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.