Universal Forest Products, Inc. (UFPI) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,802 shares of the construction company’s stock after selling 2,200 shares during the period. New York State Teachers Retirement System owned about 0.23% of Universal Forest Products worth $4,594,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Riverhead Capital Management LLC raised its stake in Universal Forest Products by 77.6% during the second quarter. Riverhead Capital Management LLC now owns 1,598 shares of the construction company’s stock worth $140,000 after acquiring an additional 698 shares during the period. Flinton Capital Management LLC raised its stake in Universal Forest Products by 68.6% during the second quarter. Flinton Capital Management LLC now owns 1,652 shares of the construction company’s stock worth $144,000 after acquiring an additional 672 shares during the period. Optimum Investment Advisors acquired a new stake in Universal Forest Products during the second quarter worth about $210,000. Amalgamated Bank raised its stake in Universal Forest Products by 5.0% during the second quarter. Amalgamated Bank now owns 2,768 shares of the construction company’s stock worth $242,000 after acquiring an additional 133 shares during the period. Finally, Trellus Management Company LLC acquired a new stake in Universal Forest Products during the second quarter worth about $293,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of Universal Forest Products, Inc. (UFPI) opened at $110.20 on Friday. The firm has a market cap of $2,247.09, a PE ratio of 20.68, a P/E/G ratio of 1.96 and a beta of 1.84. Universal Forest Products, Inc. has a 12 month low of $77.80 and a 12 month high of $114.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 2.62.

Universal Forest Products’s stock is scheduled to split on the morning of Wednesday, November 15th. The 3-1 split was announced on Wednesday, October 18th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, November 14th.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, October 17th. The construction company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.56 by $0.08. Universal Forest Products had a net margin of 2.85% and a return on equity of 12.05%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $984.99 million. During the same quarter last year, the business earned $1.36 earnings per share. Universal Forest Products’s revenue was up 27.8% compared to the same quarter last year. analysts expect that Universal Forest Products, Inc. will post 5.61 EPS for the current year.

The company also recently declared a semiannual dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a dividend yield of 0.31%. This is a positive change from Universal Forest Products’s previous semiannual dividend of $0.15. Universal Forest Products’s dividend payout ratio (DPR) is presently 16.89%.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $125.00 price objective on the stock in a research note on Monday, October 23rd. BMO Capital Markets assumed coverage on shares of Universal Forest Products in a research note on Tuesday, October 17th. They set a “market perform” rating and a $110.00 price objective on the stock. Sidoti assumed coverage on shares of Universal Forest Products in a research note on Tuesday, July 25th. They set a “buy” rating on the stock. Finally, BidaskClub lowered shares of Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $117.50.

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In other Universal Forest Products news, insider Patrick M. Webster sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $88.80, for a total value of $133,200.00. Following the sale, the insider now owns 59,915 shares in the company, valued at $5,320,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael R. Cole sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $110.00, for a total transaction of $55,000.00. Following the completion of the sale, the chief financial officer now owns 27,789 shares in the company, valued at approximately $3,056,790. The disclosure for this sale can be found here. Insiders sold 12,096 shares of company stock worth $1,284,305 in the last 90 days. 3.40% of the stock is owned by company insiders.

Universal Forest Products Profile

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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Institutional Ownership by Quarter for Universal Forest Products (NASDAQ:UFPI)

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