Universal Forest Products, Inc. Stock to Split on Wednesday, November 15th (UFPI)
Universal Forest Products, Inc. (NASDAQ:UFPI)’s stock is going to split on the morning of Wednesday, November 15th. The 3-1 split was announced on Wednesday, October 18th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, November 14th.
Shares of Universal Forest Products (UFPI) opened at 109.73 on Monday. Universal Forest Products has a 12-month low of $77.80 and a 12-month high of $112.93. The stock has a market cap of $2.24 billion, a P/E ratio of 20.56 and a beta of 1.84. The company’s 50-day moving average is $98.63 and its 200-day moving average is $90.75.
Universal Forest Products (NASDAQ:UFPI) last posted its earnings results on Tuesday, October 17th. The construction company reported $1.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.08. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $984.99 million. Universal Forest Products had a net margin of 2.85% and a return on equity of 12.05%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. On average, equities research analysts anticipate that Universal Forest Products will post $5.56 earnings per share for the current year.
The business also recently announced a semiannual dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a yield of 0.31%. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.15. Universal Forest Products’s dividend payout ratio is currently 16.89%.
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Several research firms have recently commented on UFPI. BMO Capital Markets began 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 raised shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Sidoti began 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 analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $117.50.
In other news, insider Patrick M. Webster sold 1,500 shares of the company’s stock in a transaction dated 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 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 available through the SEC website. Also, EVP Robert D. Coleman sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $110.15, for a total transaction of $550,750.00. Following the sale, the executive vice president now directly owns 1,680 shares of the company’s stock, valued at approximately $185,052. The disclosure for this sale can be found here. Insiders have sold a total of 7,996 shares of company stock valued at $827,524 in the last ninety days. Insiders own 3.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Parametrica Management Ltd purchased a new stake in Universal Forest Products in the 3rd quarter worth approximately $393,000. Crossmark Global Holdings Inc. purchased a new stake in Universal Forest Products in the 3rd quarter worth approximately $424,000. Pictet Asset Management Ltd. increased its holdings in Universal Forest Products by 34.8% in the 3rd quarter. Pictet Asset Management Ltd. now owns 321,317 shares of the construction company’s stock worth $31,541,000 after acquiring an additional 82,949 shares in the last quarter. Aperio Group LLC increased its holdings in Universal Forest Products by 11.9% in the 3rd quarter. Aperio Group LLC now owns 7,284 shares of the construction company’s stock worth $715,000 after acquiring an additional 777 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Universal Forest Products by 14.1% in the 3rd quarter. First Trust Advisors LP now owns 23,547 shares of the construction company’s stock worth $2,311,000 after acquiring an additional 2,905 shares in the last quarter. 78.13% of the stock is owned by institutional investors.
About Universal Forest Products
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.
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