Wells Fargo & Company MN Sells 1,177 Shares of Universal Forest Products, Inc. (NASDAQ:UFPI)

Wells Fargo & Company MN reduced its position in Universal Forest Products, Inc. (NASDAQ:UFPI) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 204,203 shares of the construction company’s stock after selling 1,177 shares during the period. Wells Fargo & Company MN owned 0.33% of Universal Forest Products worth $7,773,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in UFPI. SG Capital Management LLC boosted its holdings in shares of Universal Forest Products by 558.4% in the 2nd quarter. SG Capital Management LLC now owns 511,172 shares of the construction company’s stock valued at $19,455,000 after buying an additional 433,536 shares in the last quarter. SG Americas Securities LLC boosted its stake in Universal Forest Products by 1,239.7% in the 2nd quarter. SG Americas Securities LLC now owns 211,221 shares of the construction company’s stock worth $8,039,000 after purchasing an additional 195,455 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Universal Forest Products by 14.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,067,593 shares of the construction company’s stock worth $31,910,000 after purchasing an additional 136,112 shares in the last quarter. Hillcrest Asset Management LLC boosted its stake in Universal Forest Products by 35.7% in the 1st quarter. Hillcrest Asset Management LLC now owns 395,108 shares of the construction company’s stock worth $11,810,000 after purchasing an additional 104,006 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Universal Forest Products by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 732,941 shares of the construction company’s stock worth $19,027,000 after purchasing an additional 54,226 shares in the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.

UFPI stock traded down $0.67 during trading on Friday, reaching $41.11. The company had a trading volume of 338,284 shares, compared to its average volume of 271,605. The firm has a 50-day simple moving average of $39.50 and a 200-day simple moving average of $35.36. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 2.87 and a beta of 1.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.50 and a current ratio of 2.89. Universal Forest Products, Inc. has a twelve month low of $24.14 and a twelve month high of $42.80.

Universal Forest Products (NASDAQ:UFPI) last released its earnings results on Wednesday, July 24th. The construction company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Universal Forest Products had a net margin of 3.63% and a return on equity of 14.42%. Universal Forest Products’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. Sell-side analysts expect that Universal Forest Products, Inc. will post 2.86 earnings per share for the current year.

In other Universal Forest Products news, insider Allen T. Peters sold 5,831 shares of Universal Forest Products stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $41.28, for a total transaction of $240,703.68. Following the completion of the sale, the insider now directly owns 103,132 shares in the company, valued at approximately $4,257,288.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Tutas sold 750 shares of Universal Forest Products stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $40.45, for a total transaction of $30,337.50. Following the sale, the insider now owns 1,107 shares of the company’s stock, valued at $44,778.15. The disclosure for this sale can be found here. Insiders sold a total of 35,935 shares of company stock valued at $1,305,059 over the last quarter. 3.77% of the stock is owned by company insiders.

A number of analysts recently commented on the stock. BidaskClub upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine cut shares of Universal Forest Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st.

About Universal Forest Products

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

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