Universal Forest Products Inc. (UFPI) VP Patrick M. Benton Sells 1,368 Shares
Universal Forest Products Inc. (NASDAQ:UFPI) VP Patrick M. Benton sold 1,368 shares of the firm’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $102.56, for a total transaction of $140,302.08. Following the completion of the transaction, the vice president now directly owns 9,482 shares in the company, valued at approximately $972,473.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Universal Forest Products Inc. (NASDAQ:UFPI) opened at 101.76 on Wednesday. The company has a market cap of $2.07 billion, a PE ratio of 20.89 and a beta of 1.62. The stock’s 50 day moving average price is $93.42 and its 200-day moving average price is $96.58. Universal Forest Products Inc. has a 12-month low of $59.66 and a 12-month high of $110.97.
Universal Forest Products (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.01. Universal Forest Products had a net margin of 3.27% and a return on equity of 12.31%. The company had revenue of $826.70 million for the quarter, compared to the consensus estimate of $856.33 million. During the same quarter in the previous year, the firm posted $1.26 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts forecast that Universal Forest Products Inc. will post $4.87 earnings per share for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.45 per share. This is an increase from Universal Forest Products’s previous semiannual dividend of $0.42. The ex-dividend date is Tuesday, November 29th. This represents a dividend yield of 0.95%. Universal Forest Products’s payout ratio is presently 17.21%.
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Several hedge funds and other institutional investors have recently bought and sold shares of UFPI. Vanguard Group Inc. increased its position in Universal Forest Products by 15.0% in the second quarter. Vanguard Group Inc. now owns 1,844,299 shares of the company’s stock valued at $170,949,000 after buying an additional 239,898 shares during the last quarter. Copper Rock Capital Partners LLC increased its position in Universal Forest Products by 750.2% in the third quarter. Copper Rock Capital Partners LLC now owns 263,730 shares of the company’s stock valued at $26,088,000 after buying an additional 232,710 shares during the last quarter. JPMorgan Chase & Co. increased its position in Universal Forest Products by 173.9% in the second quarter. JPMorgan Chase & Co. now owns 258,559 shares of the company’s stock valued at $23,966,000 after buying an additional 164,154 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Universal Forest Products during the second quarter valued at about $13,556,000. Finally, State Street Corp increased its position in Universal Forest Products by 28.8% in the second quarter. State Street Corp now owns 556,128 shares of the company’s stock valued at $51,552,000 after buying an additional 124,413 shares during the last quarter. Institutional investors own 81.41% of the company’s stock.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a report on Monday, October 31st. DA Davidson raised Universal Forest Products from a “neutral” rating to a “buy” rating and lifted their price target for the company from $105.00 to $110.00 in a report on Thursday, October 20th. They noted that the move was a valuation call.
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: retail, construction and industrial. Its industrial market serves as industrial manufacturers and other customers for packaging, material handling and other applications.
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