Universal Forest Products (UFPI) Downgraded by BidaskClub

Universal Forest Products (NASDAQ:UFPI) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other equities research analysts have also commented on UFPI. BMO Capital Markets assumed coverage on shares of Universal Forest Products in a report on Tuesday, October 17th. They set a “market perform” rating and a $36.67 price objective on the stock. Zacks Investment Research upgraded shares of Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $41.67 price objective on the stock in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $39.17.

Shares of Universal Forest Products (NASDAQ:UFPI) traded up $0.76 during trading hours on Friday, hitting $38.37. 179,546 shares of the company were exchanged, compared to its average volume of 203,007. Universal Forest Products has a fifty-two week low of $25.93 and a fifty-two week high of $39.58. The company has a current ratio of 2.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2,347.25, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.75 and a beta of 1.84.

In related news, EVP Robert D. Coleman sold 4,100 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $111.41, for a total value of $456,781.00. Following the completion of the transaction, the executive vice president now owns 1,680 shares of the company’s stock, valued at $187,168.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Charles Scott Greene sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $39.05, for a total transaction of $117,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,899 shares of company stock valued at $2,159,694. 3.40% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its position in Universal Forest Products by 5.0% in the second quarter. Amalgamated Bank now owns 2,768 shares of the construction company’s stock valued at $242,000 after purchasing an additional 133 shares in the last quarter. Suntrust Banks Inc. grew its position in Universal Forest Products by 4.3% in the second quarter. Suntrust Banks Inc. now owns 3,519 shares of the construction company’s stock valued at $306,000 after purchasing an additional 146 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Universal Forest Products by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 15,440 shares of the construction company’s stock valued at $1,348,000 after purchasing an additional 221 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in Universal Forest Products by 13.5% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,951 shares of the construction company’s stock valued at $486,000 after purchasing an additional 590 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in Universal Forest Products by 2.9% in the second quarter. New York State Common Retirement Fund now owns 21,300 shares of the construction company’s stock valued at $1,860,000 after purchasing an additional 599 shares in the last quarter. 26.69% of the stock is owned by institutional investors and hedge funds.

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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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