Wall Street brokerages expect Universal Forest Products, Inc. (NASDAQ:UFPI) to post $1.24 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Universal Forest Products’ earnings. The highest sales estimate is $1.30 billion and the lowest is $1.19 billion. Universal Forest Products posted sales of $1.29 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.9%. The firm is expected to report its next earnings results after the market closes on Wednesday, July 24th.
On average, analysts expect that Universal Forest Products will report full year sales of $4.52 billion for the current financial year, with estimates ranging from $4.48 billion to $4.56 billion. For the next financial year, analysts anticipate that the business will post sales of $4.70 billion, with estimates ranging from $4.68 billion to $4.72 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Universal Forest Products.
Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Universal Forest Products had a net margin of 3.35% and a return on equity of 13.90%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share.
Separately, BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd.
In other news, insider Allen T. Peters sold 7,800 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $35.75, for a total value of $278,850.00. Following the sale, the insider now owns 108,963 shares of the company’s stock, valued at $3,895,427.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert D. Coleman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $35.34, for a total transaction of $353,400.00. Following the completion of the sale, the executive vice president now directly owns 1,200 shares in the company, valued at approximately $42,408. The disclosure for this sale can be found here. In the last three months, insiders sold 69,380 shares of company stock worth $2,524,105. Insiders own 3.77% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Menta Capital LLC bought a new stake in Universal Forest Products during the 4th quarter worth approximately $602,000. Jennison Associates LLC increased its holdings in Universal Forest Products by 79.7% during the 1st quarter. Jennison Associates LLC now owns 34,954 shares of the construction company’s stock worth $1,045,000 after acquiring an additional 15,503 shares during the period. Westwood Holdings Group Inc. increased its holdings in Universal Forest Products by 14.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,067,593 shares of the construction company’s stock worth $31,910,000 after acquiring an additional 136,112 shares during the period. Great West Life Assurance Co. Can grew its stake in Universal Forest Products by 2.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 84,562 shares of the construction company’s stock worth $2,527,000 after buying an additional 1,835 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Universal Forest Products by 13.0% in the 4th quarter. California Public Employees Retirement System now owns 101,218 shares of the construction company’s stock worth $2,628,000 after buying an additional 11,661 shares in the last quarter. 79.87% of the stock is currently owned by institutional investors.
UFPI stock traded up $0.53 during mid-day trading on Friday, hitting $37.00. The company had a trading volume of 218,500 shares, compared to its average volume of 252,011. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.66 and a beta of 1.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 3.44. Universal Forest Products has a 12 month low of $24.14 and a 12 month high of $38.63. The firm’s fifty day moving average is $35.95.
The firm also recently declared a semiannual dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a dividend yield of 1.02%. This is a positive change from Universal Forest Products’s previous semiannual dividend of $0.18. Universal Forest Products’s payout ratio is 17.17%.
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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