Miles Capital Inc. Invests $210,000 in Universal Forest Products, Inc. (NASDAQ:UFPI)

Miles Capital Inc. purchased a new position in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,525 shares of the construction company’s stock, valued at approximately $210,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in Universal Forest Products by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 732,941 shares of the construction company’s stock valued at $19,027,000 after purchasing an additional 54,226 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Universal Forest Products by 456.5% during the first quarter. BNP Paribas Arbitrage SA now owns 13,874 shares of the construction company’s stock worth $415,000 after purchasing an additional 11,381 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Universal Forest Products by 5.5% during the first quarter. SG Americas Securities LLC now owns 15,766 shares of the construction company’s stock worth $471,000 after purchasing an additional 815 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Universal Forest Products by 7.0% during the first quarter. Janus Henderson Group PLC now owns 11,035 shares of the construction company’s stock worth $330,000 after purchasing an additional 718 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Universal Forest Products by 2.2% during the first quarter. Rhumbline Advisers now owns 208,458 shares of the construction company’s stock worth $6,231,000 after purchasing an additional 4,557 shares in the last quarter. 80.65% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the company. BidaskClub raised Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine downgraded Universal Forest Products from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st.

Shares of UFPI traded down $0.43 during mid-day trading on Friday, hitting $41.35. 12,755 shares of the company were exchanged, compared to its average volume of 264,114. Universal Forest Products, Inc. has a 1-year low of $24.14 and a 1-year high of $42.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.50 and a current ratio of 2.89. The company has a 50 day moving average of $39.39 and a 200-day moving average of $35.32. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 2.76 and a beta of 1.89.

Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, July 24th. The construction company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.07. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. Universal Forest Products had a net margin of 3.63% and a return on equity of 14.42%. Universal Forest Products’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. Research analysts anticipate that Universal Forest Products, Inc. will post 2.86 earnings per share for the current fiscal year.

In other news, insider Allen T. Peters sold 5,831 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $41.28, for a total transaction of $240,703.68. Following the completion of the sale, the insider now owns 103,132 shares in the company, valued at approximately $4,257,288.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Coleman sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $40.13, for a total transaction of $802,600.00. Following the sale, the executive vice president now owns 1,200 shares of the company’s stock, valued at approximately $48,156. The disclosure for this sale can be found here. Insiders have sold a total of 35,935 shares of company stock valued at $1,305,059 in the last 90 days. Insiders own 3.77% of the company’s stock.

Universal Forest Products 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.

Further Reading: Why do analysts give a neutral rating?

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

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