Universal Forest Products, Inc. (NASDAQ:UFPI) – DA Davidson lifted their FY2017 earnings estimates for Universal Forest Products in a note issued to investors on Wednesday. DA Davidson analyst S. Chercover now forecasts that the construction company will post earnings per share of $5.61 for the year, up from their prior estimate of $5.24. DA Davidson also issued estimates for Universal Forest Products’ Q4 2017 earnings at $1.28 EPS and FY2018 earnings at $6.57 EPS.

Universal Forest Products (NASDAQ:UFPI) last released its earnings results on Tuesday, October 17th. The construction company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.08. Universal Forest Products had a return on equity of 12.05% and a net margin of 2.85%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $984.99 million. During the same period in the prior year, the company earned $1.36 earnings per share. The company’s quarterly revenue was up 27.8% on a year-over-year basis.

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A number of other research firms have also commented on UFPI. BMO Capital Markets assumed coverage on shares of Universal Forest Products in a research report on Tuesday, October 17th. They set a “market perform” rating and a $110.00 price target for the company. Zacks Investment Research upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Sidoti assumed coverage on shares of Universal Forest Products in a research report on Tuesday, July 25th. They set a “buy” rating for the company. Finally, BidaskClub lowered shares of Universal Forest Products from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Universal Forest Products presently has a consensus rating of “Hold” and a consensus target price of $110.00.

Shares of Universal Forest Products (NASDAQ UFPI) opened at 108.86 on Monday. The company has a market capitalization of $2.22 billion, a PE ratio of 20.39 and a beta of 1.84. The firm’s 50-day moving average price is $95.76 and its 200 day moving average price is $90.21. Universal Forest Products has a 1-year low of $77.80 and a 1-year high of $110.49.

The business also recently disclosed a semiannual dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.17 per share. This is an increase from Universal Forest Products’s previous semiannual dividend of $0.15. This represents a dividend yield of 0.31%. The ex-dividend date is Thursday, November 30th. Universal Forest Products’s payout ratio is currently 16.89%.

In other news, insider Patrick M. Webster sold 1,500 shares of Universal Forest Products stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $88.80, for a total transaction of $133,200.00. Following the completion of the sale, the insider now directly owns 59,915 shares of the company’s stock, valued at approximately $5,320,452. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick M. Webster sold 996 shares of Universal Forest Products stock in a transaction on Friday, September 15th. The stock was sold at an average price of $88.93, for a total transaction of $88,574.28. Following the sale, the insider now directly owns 58,919 shares of the company’s stock, valued at $5,239,666.67. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in shares of Universal Forest Products by 55.5% during the 1st quarter. SG Americas Securities LLC now owns 1,539 shares of the construction company’s stock worth $152,000 after acquiring an additional 549 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Universal Forest Products by 77.6% in the second quarter. Riverhead Capital Management LLC now owns 1,598 shares of the construction company’s stock worth $140,000 after purchasing an additional 698 shares during the last quarter. Flinton Capital Management LLC lifted its stake in Universal Forest Products by 68.6% in the second quarter. Flinton Capital Management LLC now owns 1,652 shares of the construction company’s stock worth $144,000 after purchasing an additional 672 shares during the last quarter. Optimum Investment Advisors bought a new stake in Universal Forest Products in the second quarter worth $210,000. Finally, Amalgamated Bank lifted its stake in Universal Forest Products by 5.0% in the second quarter. Amalgamated Bank now owns 2,768 shares of the construction company’s stock worth $242,000 after purchasing an additional 133 shares during the last quarter. 80.28% 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, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.

Earnings History and Estimates for Universal Forest Products (NASDAQ:UFPI)

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