MQS Management LLC Acquires New Shares in UFP Industries, Inc. $UFPI

MQS Management LLC acquired a new stake in UFP Industries, Inc. (NASDAQ:UFPI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,765 shares of the construction company’s stock, valued at approximately $374,000.

Several other institutional investors and hedge funds have also modified their holdings of UFPI. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of UFP Industries in the 1st quarter valued at $36,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of UFP Industries by 39.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock valued at $45,000 after purchasing an additional 119 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of UFP Industries in the 2nd quarter valued at $59,000. Signaturefd LLC lifted its position in UFP Industries by 222.5% during the 1st quarter. Signaturefd LLC now owns 816 shares of the construction company’s stock worth $87,000 after acquiring an additional 563 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in UFP Industries during the 2nd quarter worth $91,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $91.78 on Monday. The firm’s 50-day moving average is $96.49 and its 200-day moving average is $99.56. UFP Industries, Inc. has a 52-week low of $88.99 and a 52-week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 15.93 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

UFPI has been the subject of a number of research analyst reports. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of UFP Industries in a research report on Wednesday, October 8th. 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. Finally, 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 for the company. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.25.

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.