GW&K Investment Management LLC Has $34.70 Million Stock Holdings in Universal Forest Products, Inc. (NASDAQ:UFPI)

GW&K Investment Management LLC increased its holdings in Universal Forest Products, Inc. (NASDAQ:UFPI) by 22.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 870,088 shares of the construction company’s stock after purchasing an additional 157,169 shares during the period. GW&K Investment Management LLC owned approximately 1.42% of Universal Forest Products worth $34,699,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. raised its position in Universal Forest Products by 1.8% in the second quarter. BlackRock Inc. now owns 10,050,877 shares of the construction company’s stock worth $382,537,000 after purchasing an additional 176,795 shares in the last quarter. Victory Capital Management Inc. raised its position in Universal Forest Products by 11.4% in the second quarter. Victory Capital Management Inc. now owns 2,523,791 shares of the construction company’s stock worth $96,055,000 after purchasing an additional 257,507 shares in the last quarter. Northern Trust Corp raised its position in Universal Forest Products by 8.9% in the second quarter. Northern Trust Corp now owns 1,177,481 shares of the construction company’s stock worth $44,814,000 after purchasing an additional 95,832 shares in the last quarter. Prudential Financial Inc. raised its position in Universal Forest Products by 35.8% in the second quarter. Prudential Financial Inc. now owns 1,001,366 shares of the construction company’s stock worth $38,112,000 after purchasing an additional 263,869 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Universal Forest Products by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 911,744 shares of the construction company’s stock worth $34,700,000 after purchasing an additional 31,313 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Donald L. James sold 6,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $51.31, for a total transaction of $307,860.00. Following the sale, the vice president now directly owns 21,917 shares in the company, valued at $1,124,561.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Allen T. Peters sold 2,017 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $52.20, for a total transaction of $105,287.40. Following the sale, the insider now owns 101,115 shares in the company, valued at $5,278,203. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,270 shares of company stock worth $1,763,652. 3.77% of the stock is currently owned by company insiders.

Shares of NASDAQ UFPI traded down $0.23 during mid-day trading on Friday, hitting $50.05. 396,800 shares of the stock were exchanged, compared to its average volume of 287,655. The stock’s fifty day simple moving average is $43.56 and its two-hundred day simple moving average is $38.86. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.59 and a current ratio of 2.83. The company has a market cap of $3.21 billion, a P/E ratio of 21.48 and a beta of 1.88. Universal Forest Products, Inc. has a twelve month low of $24.14 and a twelve month high of $52.83.

Universal Forest Products (NASDAQ:UFPI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.08. Universal Forest Products had a net margin of 3.91% and a return on equity of 14.91%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, equities research analysts predict that Universal Forest Products, Inc. will post 2.91 earnings per share for the current fiscal year.

Several research firms have recently weighed in on UFPI. BMO Capital Markets raised their price objective on shares of Universal Forest Products to $44.00 in a report on Monday, October 28th. They noted that the move was a valuation call. BidaskClub raised shares of Universal Forest Products from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. ValuEngine lowered shares of Universal Forest Products from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, DA Davidson raised their price objective on shares of Universal Forest Products to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th.

Universal Forest Products 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 and wood composite decking and related accessories, 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.

Featured Article: What are some reasons analysts would give stocks a buy rating?

Want to see what other hedge funds are holding UFPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Forest Products, Inc. (NASDAQ:UFPI).

Institutional Ownership by Quarter for Universal Forest Products (NASDAQ:UFPI)

Receive News & Ratings for Universal Forest Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Forest Products and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply