Universal Forest Products, Inc. (NASDAQ:UFPI) CFO Michael R. Cole sold 500 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $110.00, for a total value of $55,000.00. Following the sale, the chief financial officer now directly owns 27,789 shares in the company, valued at approximately $3,056,790. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Universal Forest Products, Inc. (UFPI) opened at $110.20 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.62 and a debt-to-equity ratio of 0.15. Universal Forest Products, Inc. has a fifty-two week low of $77.80 and a fifty-two week high of $114.28. The company has a market capitalization of $2,294.85, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.01 and a beta of 1.84.
Universal Forest Products’s stock is going to split on Wednesday, November 15th. The 3-1 split was announced on Wednesday, October 18th. The newly issued shares will be issued to shareholders after the closing bell on Tuesday, November 14th.
Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, October 17th. The construction company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.08. Universal Forest Products had a return on equity of 12.05% and a net margin of 2.85%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $984.99 million. During the same quarter in the previous year, the company posted $1.36 earnings per share. Universal Forest Products’s revenue was up 27.8% compared to the same quarter last year. sell-side analysts expect that Universal Forest Products, Inc. will post 5.61 earnings per share for the current year.
The company also recently announced a semiannual dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.17 dividend. This is an increase from Universal Forest Products’s previous semiannual dividend of $0.15. This represents a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, November 30th. Universal Forest Products’s payout ratio is currently 16.89%.
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UFPI has been the topic of several recent research reports. Sidoti started coverage on Universal Forest Products in a research report on Tuesday, July 25th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $125.00 target price for the company in a research note on Monday, October 23rd. BidaskClub cut Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets started coverage on Universal Forest Products in a research note on Tuesday, October 17th. They issued a “market perform” rating and a $110.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $117.50.
Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in Universal Forest Products by 17.6% during the second quarter. Bank of New York Mellon Corp now owns 434,215 shares of the construction company’s stock valued at $37,911,000 after purchasing an additional 64,958 shares during the period. Virginia Retirement Systems ET AL grew its stake in shares of Universal Forest Products by 9.9% during the second quarter. Virginia Retirement Systems ET AL now owns 25,500 shares of the construction company’s stock valued at $2,226,000 after buying an additional 2,300 shares during the last quarter. Alpha Windward LLC grew its stake in shares of Universal Forest Products by 7.8% during the second quarter. Alpha Windward LLC now owns 4,980 shares of the construction company’s stock valued at $435,000 after buying an additional 360 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Universal Forest Products by 141.5% during the second quarter. Victory Capital Management Inc. now owns 168,879 shares of the construction company’s stock valued at $14,745,000 after buying an additional 98,948 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Universal Forest Products during the second quarter valued at approximately $387,000. Institutional investors own 78.65% of the company’s stock.
About Universal Forest Products
Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.
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