According to Zacks, “Universal Forest's long-term prospects appear bright, given the solid organic and inorganic expansion efforts. The company believes that acquisition of Idaho Western and certain assets of Robbins Manufacturing Co. will boost its revenue by $100 million annually. Also, the recently completed acquisition of idX Corp will add new product portfolio and customer base to the company's existing businesses. In addition, the company has certain long-term targets, including sales growth of roughly 4-6% above positive GDP growth. New product sales are anticipated to constitute at least 10% of total sales. Despite these positives, the company is exposed to near-term headwinds including adverse foreign currency movements, geopolitical issues, higher costs & expenses and stiff competition.”
Separately, DA Davidson raised shares of Universal Forest Products from an underperform rating to a neutral rating in a research note on Friday, July 22nd.
Shares of Universal Forest Products (NASDAQ:UFPI) opened at 102.33 on Wednesday. Universal Forest Products has a 52-week low of $57.11 and a 52-week high of $110.97. The company has a 50 day moving average of $105.56 and a 200-day moving average of $92.45. The company has a market cap of $2.08 billion, a PE ratio of 21.41 and a beta of 1.66.
Universal Forest Products (NASDAQ:UFPI) last posted its earnings results on Wednesday, July 20th. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.16. The firm had revenue of $872.10 million for 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 company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Analysts forecast that Universal Forest Products will post $4.84 EPS for the current fiscal year.
In other news, VP Charles Scott Greene sold 4,639 shares of Universal Forest Products stock in a transaction 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 transaction, the vice president now owns 9,298 shares in the company, valued at $1,022,687.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew J. Missad sold 400 shares of Universal Forest Products stock in a transaction on Friday, September 9th. The stock was sold at an average price of $102.75, for a total transaction of $41,100.00. Following the transaction, the chief executive officer now owns 55,559 shares in the company, valued at approximately $5,708,687.25. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Universal Forest Products during the second quarter worth approximately $130,000. BlackRock Japan Co. Ltd raised its position in shares of Universal Forest Products by 59.5% in the second quarter. BlackRock Japan Co. Ltd now owns 1,509 shares of the company’s stock worth $140,000 after buying an additional 563 shares during the period. BlackRock Inc. raised 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 period. Hsbc Holdings PLC acquired a new position in shares of Universal Forest Products during the second quarter worth approximately $205,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Universal Forest Products during the second quarter worth approximately $215,000. Institutional investors own 82.43% of the company’s stock.
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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