Insider Selling: Robert Coleman Sells 3,000 Shares of Universal Forest Products Stock (UFPI)
Universal Forest Products (NASDAQ:UFPI) EVP Robert Coleman sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $47.00, for a total transaction of $141,000.00. Following the completion of the transaction, the executive vice president now directly owns 750 shares of the company’s stock, valued at approximately $35,250. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Universal Forest Products (NASDAQ:UFPI) traded up 1.80% on Friday, hitting $47.50. 308,064 shares of the company’s stock traded hands. Universal Forest Products has a 52-week low of $32.56 and a 52-week high of $48.76. The stock’s 50-day moving average is $40.8 and its 200-day moving average is $39.70. The company has a market cap of $944.9 million and a price-to-earnings ratio of 40.09.
Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.17. The company had revenue of $651.80 million for the quarter, compared to the consensus estimate of $625.77 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. Analysts expect that Universal Forest Products will post $1.74 EPS for the current fiscal year.
The company also recently announced a semiannual dividend, which is scheduled for Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.21 per share. This represents a dividend yield of 0.88%. The ex-dividend date is Tuesday, November 26th. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.20.
A number of research firms have recently commented on UFPI. Analysts at DA Davidson downgraded shares of Universal Forest Products from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $52.00 price target on the stock, up previously from $46.00. They noted that the move was a valuation call. Separately, analysts at Sterne Agee downgraded shares of Universal Forest Products from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $47.00 price target on the stock, up previously from $45.00. Finally, analysts at Sterne Agee initiated coverage on shares of Universal Forest Products in a research note to investors on Friday, September 6th. They set a “buy” rating and a $45.00 price target on the stock.
Universal Forest Products, Inc is a holding company that provides capital, management and administrative resources to subsidiaries that design, manufacture and market wood and wood-alternative products for retail building home centers and other retailers, structural lumber and other products for the manufactured housing industry, engineered wood components for the residential construction market, and specialty wood packaging and components and packing materials for various industries.
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