ClariVest Asset Management LLC Buys 11,895 Shares of Universal Forest Products, Inc. (NASDAQ:UFPI)

ClariVest Asset Management LLC increased its position in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,806 shares of the construction company’s stock after buying an additional 11,895 shares during the period. ClariVest Asset Management LLC owned 0.46% of Universal Forest Products worth $8,191,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of UFPI. Suntrust Banks Inc. raised its stake in Universal Forest Products by 1.1% in the first quarter. Suntrust Banks Inc. now owns 3,373 shares of the construction company’s stock worth $331,000 after buying an additional 37 shares during the period. State of Alaska Department of Revenue raised its stake in Universal Forest Products by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 2,250 shares of the construction company’s stock worth $221,000 after buying an additional 50 shares during the period. Capital One National Association raised its stake in Universal Forest Products by 0.9% in the first quarter. Capital One National Association now owns 6,213 shares of the construction company’s stock worth $612,000 after buying an additional 58 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Universal Forest Products by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,950 shares of the construction company’s stock worth $685,000 after buying an additional 70 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Universal Forest Products by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,300 shares of the construction company’s stock worth $818,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 79.13% of the company’s stock.

Shares of Universal Forest Products, Inc. (NASDAQ:UFPI) opened at 81.14 on Monday. Universal Forest Products, Inc. has a 1-year low of $80.72 and a 1-year high of $110.97. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 16.10 and a beta of 1.88. The stock has a 50 day moving average price of $85.92 and a 200-day moving average price of $93.01.

Universal Forest Products (NASDAQ:UFPI) last posted its earnings results on Tuesday, July 18th. The construction company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by $0.21. Universal Forest Products had a net margin of 2.86% and a return on equity of 11.73%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business earned $1.64 earnings per share. Universal Forest Products’s quarterly revenue was up 23.0% on a year-over-year basis. On average, equities research analysts expect that Universal Forest Products, Inc. will post $5.60 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://sportsperspectives.com/2017/08/14/clarivest-asset-management-llc-buys-11895-shares-of-universal-forest-products-inc-nasdaqufpi.html.

A number of research firms have recently issued reports on UFPI. Zacks Investment Research lowered Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. ValuEngine upgraded Universal Forest Products from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Finally, Sidoti began coverage on Universal Forest Products in a research note on Tuesday, July 25th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Universal Forest Products currently has an average rating of “Hold” and a consensus price target of $105.50.

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, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.

Want to see what other hedge funds are holding UFPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Forest Products, Inc. (NASDAQ:UFPI).

Institutional Ownership by Quarter for Universal Forest Products (NASDAQ:UFPI)

Receive News & Ratings for Universal Forest Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Forest Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply