Universal Forest Products, Inc. (NASDAQ:UFPI) insider Patrick M. Benton sold 6,123 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $58.68, for a total transaction of $359,297.64. Following the completion of the transaction, the insider now owns 91,509 shares in the company, valued at $5,369,748.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Universal Forest Products stock opened at $58.22 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.79 and a current ratio of 2.84. Universal Forest Products, Inc. has a 52-week low of $29.17 and a 52-week high of $58.92. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 18.31 and a beta of 1.60. The company’s 50 day moving average price is $49.38 and its 200-day moving average price is $45.16.
Universal Forest Products (NASDAQ:UFPI) last issued its earnings results on Wednesday, July 22nd. The construction company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.45. Universal Forest Products had a net margin of 4.42% and a return on equity of 15.39%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.09 billion. As a group, equities research analysts forecast that Universal Forest Products, Inc. will post 3.13 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of UFPI. First Trust Advisors LP grew its holdings in shares of Universal Forest Products by 81.1% in the first quarter. First Trust Advisors LP now owns 113,362 shares of the construction company’s stock worth $3,388,000 after purchasing an additional 50,777 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Universal Forest Products in the first quarter worth $140,000. Raymond James & Associates purchased a new stake in Universal Forest Products in the fourth quarter worth $270,000. UBS Group AG lifted its stake in Universal Forest Products by 13.6% in the fourth quarter. UBS Group AG now owns 89,068 shares of the construction company’s stock worth $4,248,000 after acquiring an additional 10,663 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its stake in Universal Forest Products by 4.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 72,104 shares of the construction company’s stock worth $3,439,000 after acquiring an additional 2,974 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.
UFPI has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Universal Forest Products from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. ValuEngine cut shares of Universal Forest Products from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Benchmark increased their price target on shares of Universal Forest Products from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, July 24th. BMO Capital Markets increased their price target on shares of Universal Forest Products from $44.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Finally, Zacks Investment Research cut shares of Universal Forest Products from a “hold” rating to a “sell” rating and set a $43.00 price target on the stock. in a research report on Monday, April 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Universal Forest Products has a consensus rating of “Hold” and an average target price of $51.83.
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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