Universal Forest Products Inc. (NASDAQ:UFPI) posted its quarterly earnings results on Tuesday. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. The company had revenue of $826.70 million for the quarter, compared to analyst estimates of $856.33 million. Universal Forest Products had a return on equity of 12.38% and a net margin of 3.27%. During the same quarter last year, the company earned $1.26 EPS.
Shares of Universal Forest Products (NASDAQ:UFPI) traded down 1.40% during midday trading on Tuesday, hitting $95.95. The stock had a trading volume of 212,947 shares. Universal Forest Products has a one year low of $59.66 and a one year high of $110.97. The stock has a 50 day moving average of $101.95 and a 200-day moving average of $94.63. The company has a market cap of $1.95 billion, a P/E ratio of 20.07 and a beta of 1.55.
In other Universal Forest Products news, EVP Robert D. Coleman sold 7,500 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $108.53, for a total transaction of $813,975.00. Following the completion of the sale, the executive vice president now owns 1,680 shares of the company’s stock, valued at $182,330.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Missad sold 400 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $102.75, for a total value of $41,100.00. Following the sale, the chief executive officer now directly owns 55,559 shares of the company’s stock, valued at approximately $5,708,687.25. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. BlackRock Fund Advisors increased its stake in Universal Forest Products by 2.1% in the second quarter. BlackRock Fund Advisors now owns 1,446,648 shares of the company’s stock worth $134,090,000 after buying an additional 29,191 shares during the period. State Street Corp increased its stake in Universal Forest Products by 28.8% in the second quarter. State Street Corp now owns 556,128 shares of the company’s stock worth $51,552,000 after buying an additional 124,413 shares during the period. AQR Capital Management LLC increased its stake in Universal Forest Products by 31.0% in the second quarter. AQR Capital Management LLC now owns 170,455 shares of the company’s stock worth $15,799,000 after buying an additional 40,353 shares during the period. Riverhead Capital Management LLC increased its stake in Universal Forest Products by 2,918.5% in the second quarter. Riverhead Capital Management LLC now owns 106,402 shares of the company’s stock worth $15,023,000 after buying an additional 102,877 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Universal Forest Products by 0.6% in the second quarter. Thrivent Financial for Lutherans now owns 96,216 shares of the company’s stock worth $8,918,000 after buying an additional 580 shares during the period. 83.62% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on UFPI shares. Zacks Investment Research lowered Universal Forest Products from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 21st. DA Davidson raised Universal Forest Products from an “underperform” rating to a “neutral” rating in a research report on Friday, July 22nd.
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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