Brokerages expect that Universal Forest Products, Inc. (NASDAQ:UFPI) will report sales of $1.24 billion for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Universal Forest Products’ earnings, with the lowest sales estimate coming in at $1.19 billion and the highest estimate coming in at $1.30 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 company is expected to issue its next quarterly earnings results on Wednesday, July 17th.
On average, analysts expect that Universal Forest Products will report full-year sales of $4.52 billion for the current fiscal year, with estimates ranging from $4.48 billion to $4.56 billion. For the next year, analysts forecast that the firm will post sales of $4.70 billion, with estimates ranging from $4.68 billion to $4.72 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Universal Forest Products.
Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. Universal Forest Products had a return on equity of 13.90% and a net margin of 3.35%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year.
In related news, CEO Matthew J. Missad sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $35.75, for a total transaction of $429,000.00. Following the completion of the sale, the chief executive officer now owns 246,381 shares of the company’s stock, valued at $8,808,120.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert D. Coleman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $35.34, for a total value of $353,400.00. Following the sale, the executive vice president now directly owns 1,200 shares of the company’s stock, valued at approximately $42,408. The disclosure for this sale can be found here. Insiders have sold 69,380 shares of company stock valued at $2,524,105 in the last ninety days. 3.77% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UFPI. Oppenheimer Asset Management Inc. acquired a new stake in Universal Forest Products during the fourth quarter worth approximately $43,000. Versant Capital Management Inc grew its stake in Universal Forest Products by 35.5% in the first quarter. Versant Capital Management Inc now owns 1,513 shares of the construction company’s stock valued at $45,000 after acquiring an additional 396 shares during the period. Claybrook Capital LLC acquired a new stake in Universal Forest Products in the fourth quarter valued at approximately $68,000. Bank of Montreal Can grew its stake in Universal Forest Products by 16.9% in the fourth quarter. Bank of Montreal Can now owns 3,009 shares of the construction company’s stock valued at $78,000 after acquiring an additional 435 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Universal Forest Products by 18.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,790 shares of the construction company’s stock valued at $124,000 after acquiring an additional 759 shares during the period. 79.87% of the stock is owned by institutional investors and hedge funds.
Shares of UFPI traded down $0.58 during mid-day trading on Wednesday, reaching $36.22. 5,372 shares of the company were exchanged, compared to its average volume of 219,325. Universal Forest Products has a 52 week low of $24.14 and a 52 week high of $38.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 1.63. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.86.
The firm also recently announced a semiannual dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, May 30th. This represents a yield of 1.02%. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.18. Universal Forest Products’s dividend payout ratio (DPR) is currently 17.17%.
Universal Forest Products Company 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 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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