Citigroup Inc. raised its stake in Universal Forest Products, Inc. (NASDAQ:UFPI) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,292 shares of the construction company’s stock after acquiring an additional 6,131 shares during the period. Citigroup Inc. owned approximately 0.07% of Universal Forest Products worth $1,176,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Universal Forest Products in the fourth quarter worth $43,000. Bank of Montreal Can grew its stake in shares of Universal Forest Products by 16.9% in the fourth quarter. Bank of Montreal Can now owns 3,009 shares of the construction company’s stock worth $78,000 after acquiring an additional 435 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Universal Forest Products by 18.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,790 shares of the construction company’s stock worth $124,000 after acquiring an additional 759 shares during the last quarter. Vident Investment Advisory LLC purchased a new stake in shares of Universal Forest Products in the third quarter worth $297,000. Finally, Jefferies Group LLC grew its stake in shares of Universal Forest Products by 48.8% in the third quarter. Jefferies Group LLC now owns 9,306 shares of the construction company’s stock worth $329,000 after acquiring an additional 3,052 shares during the last quarter. 79.72% of the stock is currently owned by hedge funds and other institutional investors.
Universal Forest Products stock opened at $30.67 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 3.21. Universal Forest Products, Inc. has a one year low of $24.14 and a one year high of $39.41. The firm has a market cap of $1.83 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 2.19 and a beta of 1.77.
Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, February 20th. The construction company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Universal Forest Products had a return on equity of 13.58% and a net margin of 3.31%. The company had revenue of $988.20 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm posted $0.51 earnings per share. Universal Forest Products’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Universal Forest Products, Inc. will post 2.74 EPS for the current fiscal year.
A number of equities research analysts have recently commented on UFPI shares. Zacks Investment Research raised Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. BidaskClub raised Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Thursday, December 20th. Finally, ValuEngine raised Universal Forest Products from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Universal Forest Products has a consensus rating of “Hold” and a consensus target price of $42.00.
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Universal Forest Products Company Profile
Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood composite decking, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.
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