Allianz Asset Management GmbH Increases Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Allianz Asset Management GmbH grew its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 41.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,109 shares of the construction company's stock after purchasing an additional 66,712 shares during the period. Allianz Asset Management GmbH owned about 0.37% of UFP Industries worth $24,203,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of UFPI. GAMMA Investing LLC lifted its position in shares of UFP Industries by 107.5% during the 1st quarter. GAMMA Investing LLC now owns 1,500 shares of the construction company's stock worth $161,000 after buying an additional 777 shares during the last quarter. KBC Group NV boosted its stake in shares of 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. bought a new position in UFP Industries in the 1st quarter valued at approximately $1,534,000. Park Avenue Securities LLC grew its holdings in UFP Industries by 6.5% during the 1st quarter. Park Avenue Securities LLC now owns 2,221 shares of the construction company's stock worth $238,000 after acquiring an additional 136 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of 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 worth $761,000 after purchasing an additional 190 shares during the period. 81.81% of the stock is owned by institutional investors.

UFP Industries Stock Up 1.1%

NASDAQ:UFPI traded up $1.10 on Friday, hitting $104.84. The stock had a trading volume of 290,401 shares, compared to its average volume of 442,622. The company has a market cap of $6.33 billion, a PE ratio of 17.16 and a beta of 1.47. UFP Industries, Inc. has a 52 week low of $93.00 and a 52 week high of $141.33. The business's fifty day moving average is $100.31 and its 200 day moving average is $105.81. The company has a quick ratio of 3.44, a current ratio of 4.96 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). UFP Industries had a net margin of 5.64% and a return on equity of 11.78%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business earned $1.96 earnings per share. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Loop Capital initiated coverage on UFP Industries in a research note on Wednesday. They issued a "hold" rating and a $112.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, UFP Industries currently has a consensus rating of "Moderate Buy" and an average target price of $136.80.

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.