AlphaCrest Capital Management LLC Invests $481,000 in Universal Forest Products, Inc. (NASDAQ:UFPI)

AlphaCrest Capital Management LLC bought a new position in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,100 shares of the construction company’s stock, valued at approximately $481,000.

Other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Universal Forest Products by 16.9% in the fourth quarter. Bank of Montreal Can now owns 3,009 shares of the construction company’s stock worth $78,000 after purchasing an additional 435 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Universal Forest Products by 18.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,790 shares of the construction company’s stock worth $124,000 after acquiring an additional 759 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Universal Forest Products during the fourth quarter worth about $43,000. Crossmark Global Holdings Inc. grew its holdings in Universal Forest Products by 39.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,100 shares of the construction company’s stock worth $340,000 after acquiring an additional 3,710 shares during the period. Finally, Rhumbline Advisers grew its holdings in Universal Forest Products by 17.6% during the fourth quarter. Rhumbline Advisers now owns 203,901 shares of the construction company’s stock worth $5,293,000 after acquiring an additional 30,455 shares during the period. Institutional investors own 79.87% of the company’s stock.

Universal Forest Products stock opened at $36.10 on Wednesday. The stock has a market cap of $2.19 billion, a P/E ratio of 15.49, a P/E/G ratio of 2.56 and a beta of 1.86. Universal Forest Products, Inc. has a 52 week low of $24.14 and a 52 week high of $39.39. The company has a current ratio of 3.44, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28.

Universal Forest Products (NASDAQ:UFPI) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Universal Forest Products had a return on equity of 13.90% and a net margin of 3.35%. Universal Forest Products’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Research analysts anticipate that Universal Forest Products, Inc. will post 2.79 earnings per share for the current fiscal year.

The business also recently announced a semiannual dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a dividend of $0.20 per share. This represents a yield of 1.02%. This is a positive change from Universal Forest Products’s previous semiannual dividend of $0.18. The ex-dividend date is Thursday, May 30th. Universal Forest Products’s dividend payout ratio (DPR) is 17.17%.

In other Universal Forest Products news, CEO Matthew J. Missad sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $35.75, for a total value of $429,000.00. Following the sale, the chief executive officer now directly owns 246,381 shares of the company’s stock, valued at $8,808,120.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Allen T. Peters sold 8,131 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $30.25, for a total value of $245,962.75. Following the completion of the sale, the insider now directly owns 116,763 shares in the company, valued at $3,532,080.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,511 shares of company stock worth $2,770,068. 3.77% of the stock is owned by corporate insiders.

Several analysts recently commented on UFPI shares. Zacks Investment Research lowered Universal Forest Products from a “hold” rating to a “sell” rating in a report on Tuesday, February 26th. BidaskClub lowered Universal Forest Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 27th. Finally, ValuEngine raised Universal Forest Products from a “strong sell” rating to a “sell” rating in a report on Thursday, February 28th.

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Universal Forest Products Company Profile

Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

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Institutional Ownership by Quarter for Universal Forest Products (NASDAQ:UFPI)

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