Principal Financial Group Inc. lessened its holdings in Universal Forest Products, Inc. (NASDAQ:UFPI) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,367 shares of the construction company’s stock after selling 2,796 shares during the quarter. Principal Financial Group Inc. owned 0.80% of Universal Forest Products worth $16,037,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new stake in Universal Forest Products in the 2nd quarter valued at approximately $387,000. Bank of New York Mellon Corp boosted its holdings in Universal Forest Products by 17.6% in the 2nd 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 in the last quarter. Virginia Retirement Systems ET AL lifted its position in shares of Universal Forest Products by 9.9% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 25,500 shares of the construction company’s stock valued at $2,226,000 after acquiring an additional 2,300 shares during the period. Victory Capital Management Inc. lifted its position in shares of Universal Forest Products by 141.5% during the 2nd quarter. Victory Capital Management Inc. now owns 168,879 shares of the construction company’s stock valued at $14,745,000 after acquiring an additional 98,948 shares during the period. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Universal Forest Products during the 3rd quarter valued at approximately $350,000. 26.71% of the stock is currently owned by institutional investors.
Shares of Universal Forest Products, Inc. (NASDAQ UFPI) traded down $0.07 on Wednesday, reaching $37.46. The company’s stock had a trading volume of 212,552 shares, compared to its average volume of 364,592. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.40. The firm has a market cap of $2,328.29, a P/E ratio of 21.42, a PEG ratio of 2.04 and a beta of 1.83. Universal Forest Products, Inc. has a 52 week low of $25.93 and a 52 week high of $39.58.
Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, October 17th. The construction company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Universal Forest Products had a return on equity of 14.42% and a net margin of 3.28%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $984.99 million. During the same period in the previous year, the firm posted $0.45 EPS. Universal Forest Products’s revenue was up 27.8% on a year-over-year basis. research analysts anticipate that Universal Forest Products, Inc. will post 1.87 earnings per share for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, November 30th. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.15. This represents a dividend yield of 0.31%. Universal Forest Products’s payout ratio is currently 19.14%.
UFPI has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $41.67 price target for the company in a research report on Monday, October 23rd. BMO Capital Markets assumed coverage on Universal Forest Products in a research report on Tuesday, October 17th. They set a “market perform” rating and a $36.67 price objective for the company. Finally, BidaskClub downgraded Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $39.17.
In related news, CFO Michael R. Cole sold 500 shares of the company’s stock in a transaction 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 directly owns 27,789 shares of the company’s stock, valued at approximately $3,056,790. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Charles Scott Greene sold 3,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $39.05, for a total transaction of $117,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,596 shares of company stock valued at $1,382,405 over the last three months. Corporate insiders own 3.40% of the company’s stock.
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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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