Universal Forest Products Inc. (UFPI) Sees Large Volume Increase
Universal Forest Products Inc. (NASDAQ:UFPI) saw an uptick in trading volume on Tuesday . 243,650 shares traded hands during trading, an increase of 80% from the previous session’s volume of 135,587 shares.The stock last traded at $99.48 and had previously closed at $100.27.
Several research firms recently issued reports on UFPI. Zacks Investment Research cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a report on Monday, July 18th. DA Davidson raised shares of Universal Forest Products from an “underperform” rating to a “neutral” rating in a report on Friday, July 22nd.
The stock’s 50-day moving average price is $106.22 and its 200 day moving average price is $91.96. The company has a market capitalization of $2.04 billion, a P/E ratio of 21.01 and a beta of 1.66.
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Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $1.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.16. The company earned $872.10 million during the quarter, compared to analyst estimates of $903.33 million. Universal Forest Products had a net margin of 3.27% and a return on equity of 12.38%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. Equities analysts anticipate that Universal Forest Products Inc. will post $4.84 EPS for the current year.
In other Universal Forest Products news, CEO Matthew J. Missad sold 400 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were 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 directly owns 55,559 shares of the company’s stock, valued at approximately $5,708,687.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert D. Coleman sold 7,500 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $108.53, for a total transaction of $813,975.00. Following the transaction, the executive vice president now directly owns 1,680 shares of the company’s stock, valued at $182,330.40. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in UFPI. Fuller & Thaler Asset Management Inc. acquired a new position in Universal Forest Products during the second quarter valued at approximately $130,000. BlackRock Japan Co. Ltd raised its position in Universal Forest Products by 59.5% in the second quarter. BlackRock Japan Co. Ltd now owns 1,509 shares of the company’s stock valued at $140,000 after buying an additional 563 shares during the period. BlackRock Inc. raised its position in Universal Forest Products by 38.7% in the first quarter. BlackRock Inc. now owns 1,977 shares of the company’s stock valued at $170,000 after buying an additional 552 shares during the period. Hsbc Holdings PLC acquired a new position in Universal Forest Products during the second quarter valued at approximately $205,000. Finally, Janney Montgomery Scott LLC acquired a new position in Universal Forest Products during the second quarter valued at approximately $215,000. 83.40% of the stock is owned by institutional investors.
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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