First Citizens Bank & Trust Co. cut its position in Universal Forest Products Inc. (NASDAQ:UFPI) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,777 shares of the company’s stock after selling 780 shares during the period. First Citizens Bank & Trust Co.’s holdings in Universal Forest Products were worth $721,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Universal Forest Products by 38.7% in the first quarter. BlackRock Inc. now owns 1,977 shares of the company’s stock worth $170,000 after buying an additional 552 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Universal Forest Products during the first quarter worth about $220,000. Invictus RG acquired a new position in shares of Universal Forest Products during the first quarter worth about $250,000. Eqis Capital Management Inc. acquired a new position in shares of Universal Forest Products during the second quarter worth about $284,000. Finally, Lucus Advisors LLC acquired a new position in shares of Universal Forest Products during the second quarter worth about $358,000. 82.42% of the stock is owned by institutional investors.
Universal Forest Products Inc. (NASDAQ:UFPI) traded down 1.195% during trading on Thursday, hitting $98.765. The company had a trading volume of 36,525 shares. Universal Forest Products Inc. has a 52-week low of $59.66 and a 52-week high of $110.97. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 20.662 and a beta of 1.54. The firm’s 50 day moving average is $102.83 and its 200-day moving average is $94.26.
Universal Forest Products (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.16. The firm earned $872.10 million during the quarter, compared to analysts’ expectations of $903.33 million. Universal Forest Products had a net margin of 3.27% and a return on equity of 12.38%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $1.28 EPS. On average, equities analysts forecast that Universal Forest Products Inc. will post $4.84 earnings per share for the current year.
A number of brokerages have recently issued reports on UFPI. Zacks Investment Research downgraded Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. DA Davidson raised Universal Forest Products from an “underperform” rating to a “neutral” rating in a research report on Friday, July 22nd.
In other Universal Forest Products news, CEO Matthew J. Missad sold 400 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $102.75, for a total value of $41,100.00. Following the completion of the transaction, the chief executive officer now owns 55,559 shares of the company’s stock, valued at approximately $5,708,687.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Charles Scott Greene sold 4,639 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $109.99, for a total transaction of $510,243.61. Following the completion of the transaction, the vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $1,022,687.02. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.
Universal Forest Products Company Profile
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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