Weybosset Research & Management LLC held its stake in shares of Universal Forest Products Inc. (NASDAQ:UFPI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,500 shares of the company’s stock at the end of the second quarter. Weybosset Research & Management LLC’s holdings in Universal Forest Products were worth $417,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in UFPI. BlackRock Inc. boosted its position in 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 purchased a new position in Universal Forest Products during the first quarter worth $220,000. Invictus RG purchased a new position in Universal Forest Products during the first quarter worth $250,000. Eqis Capital Management Inc. purchased a new position in Universal Forest Products during the second quarter worth $284,000. Finally, Lucus Advisors LLC purchased a new position in Universal Forest Products during the second quarter worth $358,000. 82.43% of the stock is owned by hedge funds and other institutional investors.
Shares of Universal Forest Products Inc. (NASDAQ:UFPI) traded up 0.65% during midday trading on Wednesday, hitting $98.78. 54,548 shares of the stock were exchanged. Universal Forest Products Inc. has a 12-month low of $58.61 and a 12-month high of $110.97. The firm has a market cap of $2.01 billion, a P/E ratio of 20.67 and a beta of 1.54. The stock’s 50 day moving average is $103.97 and its 200 day moving average is $93.65.
Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.16. The business had revenue of $872.10 million for the quarter, compared to the consensus estimate of $903.33 million. Universal Forest Products had a net margin of 3.27% and a return on equity of 12.38%. Universal Forest Products’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. On average, equities research analysts forecast that Universal Forest Products Inc. will post $4.84 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Universal Forest Products from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 21st. DA Davidson raised shares of Universal Forest Products from an “underperform” rating to a “neutral” rating in a research report on Friday, July 22nd.
In other news, CEO Matthew J. Missad sold 400 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Coleman sold 7,500 shares of the firm’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $108.53, for a total transaction of $813,975.00. Following the transaction, the executive vice president now owns 1,680 shares in the company, valued at approximately $182,330.40. The disclosure for this sale can be found here. Insiders own 3.50% 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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