Envestnet Asset Management Inc. boosted its holdings in Universal Forest Products (NASDAQ:UFPI) by 192.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,990 shares of the construction company’s stock after buying an additional 5,913 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Universal Forest Products were worth $339,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of UFPI. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Universal Forest Products by 370.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,942 shares of the construction company’s stock valued at $111,000 after purchasing an additional 2,316 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Universal Forest Products by 393.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,195 shares of the construction company’s stock valued at $117,000 after purchasing an additional 953 shares during the period. Delta Asset Management LLC TN grew its stake in shares of Universal Forest Products by 200.0% during the 4th quarter. Delta Asset Management LLC TN now owns 4,758 shares of the construction company’s stock valued at $179,000 after purchasing an additional 3,172 shares during the period. Synovus Financial Corp bought a new stake in shares of Universal Forest Products during the 4th quarter valued at about $207,000. Finally, Elkfork Partners LLC bought a new stake in shares of Universal Forest Products during the 4th quarter valued at about $209,000. 80.65% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:UFPI opened at $32.74 on Wednesday. The company has a market cap of $2,034.40, a P/E ratio of 17.02, a P/E/G ratio of 2.68 and a beta of 1.83. The company has a quick ratio of 1.67, a current ratio of 3.33 and a debt-to-equity ratio of 0.26. Universal Forest Products has a 12-month low of $25.93 and a 12-month high of $39.58.
Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, April 18th. The construction company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. The company had revenue of $993.90 million during the quarter, compared to the consensus estimate of $914.75 million. Universal Forest Products had a return on equity of 12.44% and a net margin of 3.21%. The firm’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. sell-side analysts expect that Universal Forest Products will post 2.48 earnings per share for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, May 31st. This is an increase from Universal Forest Products’s previous semiannual dividend of $0.17. This represents a dividend yield of 1.08%. Universal Forest Products’s payout ratio is 18.48%.
In related news, VP Charles Scott Greene sold 5,695 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $33.59, for a total value of $191,295.05. Following the transaction, the vice president now directly owns 15,078 shares of the company’s stock, valued at approximately $506,470.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mary E. Tuuk purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was acquired at an average cost of $33.90 per share, for a total transaction of $339,000.00. Following the completion of the acquisition, the director now owns 8,277 shares in the company, valued at approximately $280,590.30. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 18,790 shares of company stock valued at $631,369. 3.40% of the stock is currently owned by corporate insiders.
A number of equities research analysts have issued reports on UFPI shares. BidaskClub downgraded Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Zacks Investment Research upgraded Universal Forest Products from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, February 28th. BMO Capital Markets restated a “hold” rating and set a $37.00 price target on shares of Universal Forest Products in a research note on Monday, April 2nd. Finally, ValuEngine downgraded Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Universal Forest Products presently has an average rating of “Hold” and a consensus target price of $38.50.
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Universal Forest Products 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 composite decking, 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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