Universal Forest Products, Inc. (NASDAQ:UFPI) Insider Sells $78,096.83 in Stock

Universal Forest Products, Inc. (NASDAQ:UFPI) insider Patrick M. Benton sold 1,561 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $50.03, for a total value of $78,096.83. Following the completion of the sale, the insider now owns 72,762 shares of the company’s stock, valued at approximately $3,640,282.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Universal Forest Products stock traded down $1.08 during trading hours on Monday, hitting $48.52. 6,010 shares of the company were exchanged, compared to its average volume of 344,736. Universal Forest Products, Inc. has a 1 year low of $24.14 and a 1 year high of $52.83. The company has a current ratio of 2.83, a quick ratio of 1.59 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average of $47.63 and a 200-day moving average of $40.26. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 20.92 and a beta of 1.87.

Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.08. Universal Forest Products had a return on equity of 14.91% and a net margin of 3.91%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Universal Forest Products, Inc. will post 2.91 earnings per share for the current fiscal year.

The business also recently declared a dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 27th. Universal Forest Products’s dividend payout ratio (DPR) is presently 17.17%.

Institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in Universal Forest Products by 81.1% during the first quarter. First Trust Advisors LP now owns 113,362 shares of the construction company’s stock worth $3,388,000 after acquiring an additional 50,777 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Universal Forest Products during the first quarter worth $140,000. First Hawaiian Bank grew its holdings in Universal Forest Products by 2,428.3% during the second quarter. First Hawaiian Bank now owns 9,102 shares of the construction company’s stock worth $347,000 after acquiring an additional 8,742 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Universal Forest Products by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 24,278 shares of the construction company’s stock worth $924,000 after acquiring an additional 400 shares during the period. Finally, Arizona State Retirement System grew its holdings in Universal Forest Products by 1.3% during the second quarter. Arizona State Retirement System now owns 95,170 shares of the construction company’s stock worth $3,622,000 after acquiring an additional 1,237 shares during the period. Institutional investors and hedge funds own 81.56% of the company’s stock.

A number of brokerages have weighed in on UFPI. BidaskClub upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. DA Davidson boosted their price objective on Universal Forest Products to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets boosted their price objective on Universal Forest Products to $44.00 in a research note on Monday, October 28th. They noted that the move was a valuation call.

About Universal Forest Products

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.

Recommended Story: How is inflation measured?

Insider Buying and Selling by Quarter for Universal Forest Products (NASDAQ:UFPI)

Receive News & Ratings for Universal Forest Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Forest Products and related companies with MarketBeat.com's FREE daily email newsletter.