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.
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.
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