Bank of America Corp DE lowered its holdings in Unifi, Inc. (NYSE:UFI) by 27.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,507 shares of the textile maker’s stock after selling 18,696 shares during the period. Bank of America Corp DE owned approximately 0.27% of Unifi worth $1,130,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Mercer Capital Advisers Inc. grew its position in Unifi by 41.7% during the 4th quarter. Mercer Capital Advisers Inc. now owns 1,700 shares of the textile maker’s stock worth $39,000 after acquiring an additional 500 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in Unifi during the 4th quarter worth approximately $126,000. Marshall Wace LLP bought a new position in Unifi during the 3rd quarter worth approximately $236,000. Alambic Investment Management L.P. grew its position in Unifi by 46.5% during the 4th quarter. Alambic Investment Management L.P. now owns 10,767 shares of the textile maker’s stock worth $246,000 after acquiring an additional 3,420 shares during the last quarter. Finally, Mycio Wealth Partners LLC grew its position in Unifi by 8.0% during the 4th quarter. Mycio Wealth Partners LLC now owns 13,500 shares of the textile maker’s stock worth $308,000 after acquiring an additional 1,000 shares during the last quarter. 82.57% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on UFI shares. ValuEngine lowered Unifi from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Zacks Investment Research lowered Unifi from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th. Finally, Sidoti lowered Unifi from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd.
In other Unifi news, insider Spring Master Fund L. Valueact acquired 115,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average cost of $20.45 per share, for a total transaction of $2,351,750.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert J. Bishop acquired 9,741 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was acquired at an average price of $22.10 per share, for a total transaction of $215,276.10. Following the completion of the transaction, the director now owns 16,734 shares in the company, valued at approximately $369,821.40. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 200,395 shares of company stock worth $4,168,077. Corporate insiders own 22.41% of the company’s stock.
UFI opened at $20.66 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.76 and a current ratio of 3.30. Unifi, Inc. has a 1 year low of $17.83 and a 1 year high of $33.62. The company has a market cap of $371.05 million, a P/E ratio of 15.65 and a beta of 0.78.
Unifi (NYSE:UFI) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.21). The company had revenue of $179.99 million for the quarter, compared to the consensus estimate of $173.60 million. Unifi had a return on equity of 1.77% and a net margin of 1.72%. Research analysts forecast that Unifi, Inc. will post 0.12 earnings per share for the current fiscal year.
Unifi Company Profile
Unifi, Inc, together with its subsidiaries, manufactures and sells synthetic and recycled products made from polyester and nylon in the United States, Brazil, China, and internationally. The company operates in three segments: Polyester, Nylon, and International. The Polyester segment manufactures and sells polyester plastic bottle flakes, polymer beads, partially oriented yarns, textured, solution and package dyed, twisted, beamed, and draw wound yarns to other yarn manufacturers, and knitters and weavers that produce yarn and/or fabric for the apparel, hosiery, home furnishings, automotive, industrial, and other end-use markets.
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