Legacy Wealth Asset Management LLC Has $324,000 Holdings in UFP Industries, Inc. $UFPI

Legacy Wealth Asset Management LLC cut its position in UFP Industries, Inc. (NASDAQ:UFPI) by 13.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,264 shares of the construction company’s stock after selling 525 shares during the period. Legacy Wealth Asset Management LLC’s holdings in UFP Industries were worth $324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of UFP Industries during the first quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd lifted its position in shares of UFP Industries by 39.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock worth $45,000 after purchasing an additional 119 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of UFP Industries during the second quarter worth approximately $59,000. Signaturefd LLC lifted its position in shares of UFP Industries by 222.5% during the first quarter. Signaturefd LLC now owns 816 shares of the construction company’s stock worth $87,000 after purchasing an additional 563 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of UFP Industries by 20.4% during the first quarter. Covestor Ltd now owns 886 shares of the construction company’s stock worth $94,000 after purchasing an additional 150 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Trading Up 2.2%

Shares of NASDAQ UFPI opened at $93.26 on Wednesday. The company’s 50 day simple moving average is $97.18 and its 200 day simple moving average is $99.83. UFP Industries, Inc. has a fifty-two week low of $88.99 and a fifty-two week high of $141.33. The firm has a market capitalization of $5.46 billion, a P/E ratio of 16.19 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.25). UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current year.

Wall Street Analysts Forecast Growth

UFPI has been the topic of a number of research reports. Stifel Nicolaus set a $95.00 target price on shares of UFP Industries and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Loop Capital initiated coverage on shares of UFP Industries in a research report on Wednesday, July 23rd. They set a “hold” rating and a $112.00 target price on the stock. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Industries in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, UFP Industries currently has a consensus rating of “Hold” and an average target price of $124.25.

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.