Patrick M. Benton Sells 6,123 Shares of Universal Forest Products, Inc. (NASDAQ:UFPI) Stock

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.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, August 31st. Universal Forest Products’s dividend payout ratio is 17.18%.

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

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