Universal Forest Products, Inc. (NASDAQ:UFPI) insider Patrick M. Benton sold 6,123 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $58.68, for a total value of $359,297.64. Following the completion of the transaction, the insider now directly owns 91,509 shares in the company, valued at $5,369,748.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
UFPI stock traded down $0.78 during mid-day trading on Friday, hitting $57.81. The stock had a trading volume of 18,688 shares, compared to its average volume of 284,605. The company has a current ratio of 2.84, a quick ratio of 1.79 and a debt-to-equity ratio of 0.12. Universal Forest Products, Inc. has a 1-year low of $29.17 and a 1-year high of $58.92. The company has a fifty day moving average of $49.20 and a 200 day moving average of $45.10. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 18.42 and a beta of 1.60.
Universal Forest Products (NASDAQ:UFPI) last issued its earnings results on Wednesday, July 22nd. The construction company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.45. Universal Forest Products had a return on equity of 15.39% and a net margin of 4.42%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.09 billion. As a group, sell-side analysts expect that Universal Forest Products, Inc. will post 3.13 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Universal Forest Products during the 2nd quarter valued at about $35,000. Point72 Asset Management L.P. bought a new stake in Universal Forest Products during the 4th quarter valued at approximately $43,000. Ameritas Investment Company LLC bought a new stake in Universal Forest Products during the 1st quarter valued at approximately $36,000. Pearl River Capital LLC bought a new stake in Universal Forest Products during the 1st quarter valued at approximately $49,000. Finally, Meeder Asset Management Inc. boosted its stake in Universal Forest Products by 1,577.4% during the 1st quarter. Meeder Asset Management Inc. now owns 2,751 shares of the construction company’s stock valued at $103,000 after purchasing an additional 2,587 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.
UFPI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Universal Forest Products from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a research report on Monday, April 13th. Stifel Nicolaus boosted their price target on Universal Forest Products from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, May 8th. Benchmark boosted their price target on Universal Forest Products from $56.00 to $66.00 and gave the company a “buy” rating in a report on Friday, July 24th. BidaskClub upgraded Universal Forest Products from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Finally, Wedbush lowered their price target on Universal Forest Products from $58.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $51.83.
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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