Universal Forest Products Inc. (NASDAQ:UFPI) saw unusually-strong trading volume on Wednesday following a better than expected earnings announcement. Approximately 187,076 shares were traded during trading, an increase of 56% from the previous session’s volume of 120,097 shares.The stock last traded at $92.11 and had previously closed at $95.95.
The company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The business had revenue of $826.70 million for the quarter, compared to analysts’ expectations of $856.33 million. Universal Forest Products had a net margin of 3.27% and a return on equity of 12.38%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS.
Several equities analysts have issued reports on UFPI shares. Zacks Investment Research cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. DA Davidson upgraded shares of Universal Forest Products from an “underperform” rating to a “neutral” rating in a research note on Friday, July 22nd.
In other news, EVP Robert D. Coleman sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $108.17, for a total value of $270,425.00. Following the transaction, the executive vice president now owns 1,680 shares in the company, valued at approximately $181,725.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Missad sold 400 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $102.75, for a total transaction of $41,100.00. Following the completion of the transaction, the chief executive officer now owns 55,559 shares in the company, valued at approximately $5,708,687.25. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its position in shares of Universal Forest Products by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock valued at $834,000 after buying an additional 100 shares during the period. PineBridge Investments L.P. raised its stake in Universal Forest Products by 4.6% in the second quarter. PineBridge Investments L.P. now owns 2,574 shares of the company’s stock valued at $239,000 after buying an additional 113 shares in the last quarter. United Services Automobile Association raised its stake in Universal Forest Products by 2.8% in the second quarter. United Services Automobile Association now owns 4,420 shares of the company’s stock valued at $410,000 after buying an additional 120 shares in the last quarter. Suntrust Banks Inc. raised its stake in Universal Forest Products by 3.8% in the second quarter. Suntrust Banks Inc. now owns 3,838 shares of the company’s stock valued at $355,000 after buying an additional 139 shares in the last quarter. Finally, FMR LLC raised its stake in Universal Forest Products by 0.4% in the second quarter. FMR LLC now owns 40,349 shares of the company’s stock valued at $3,740,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 83.62% of the company’s stock.
The stock has a market capitalization of $1.86 billion, a P/E ratio of 19.19 and a beta of 1.54. The stock has a 50 day moving average of $101.57 and a 200-day moving average of $94.69.
Universal Forest Products Company 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: retail, construction and industrial. Its industrial market serves as industrial manufacturers and other customers for packaging, material handling and other applications.
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