Intellectus Partners LLC Has $937,000 Stake in Universal Forest Products, Inc. (UFPI)

Intellectus Partners LLC lowered its stake in Universal Forest Products, Inc. (NASDAQ:UFPI) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,728 shares of the construction company’s stock after selling 206 shares during the period. Intellectus Partners LLC owned approximately 0.05% of Universal Forest Products worth $937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Universal Forest Products by 2.6% in the second quarter. BlackRock Inc. now owns 3,268,039 shares of the construction company’s stock worth $285,334,000 after buying an additional 82,962 shares during the period. Vanguard Group Inc. increased its holdings in shares of Universal Forest Products by 2.8% in the second quarter. Vanguard Group Inc. now owns 1,821,981 shares of the construction company’s stock worth $159,077,000 after buying an additional 49,058 shares during the period. Franklin Resources Inc. increased its holdings in shares of Universal Forest Products by 10.8% in the second quarter. Franklin Resources Inc. now owns 549,212 shares of the construction company’s stock worth $47,952,000 after buying an additional 53,700 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Universal Forest Products by 17.6% in the second quarter. Bank of New York Mellon Corp now owns 434,215 shares of the construction company’s stock worth $37,911,000 after buying an additional 64,958 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Universal Forest Products by 2.6% in the second quarter. Northern Trust Corp now owns 373,172 shares of the construction company’s stock worth $32,582,000 after buying an additional 9,340 shares during the period. Hedge funds and other institutional investors own 80.28% of the company’s stock.

In related news, insider Patrick M. Webster sold 1,500 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $88.80, for a total value of $133,200.00. Following the sale, the insider now directly owns 59,915 shares of the company’s stock, valued at approximately $5,320,452. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick M. Webster sold 996 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $88.93, for a total transaction of $88,574.28. Following the completion of the sale, the insider now directly owns 58,919 shares in the company, valued at $5,239,666.67. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

UFPI has been the topic of several analyst reports. BidaskClub upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Sidoti initiated coverage on Universal Forest Products in a research note on Tuesday, July 25th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research raised Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $110.00.

TRADEMARK VIOLATION WARNING: “Intellectus Partners LLC Has $937,000 Stake in Universal Forest Products, Inc. (UFPI)” was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this news story can be read at https://sportsperspectives.com/2017/10/11/intellectus-partners-llc-has-937000-stake-in-universal-forest-products-inc-ufpi.html.

Universal Forest Products, Inc. (NASDAQ UFPI) traded up 0.52% during mid-day trading on Wednesday, hitting $99.69. The company had a trading volume of 21,018 shares. Universal Forest Products, Inc. has a 1-year low of $77.80 and a 1-year high of $108.79. The stock has a 50 day moving average price of $91.33 and a 200-day moving average price of $89.80. The stock has a market capitalization of $2.04 billion, a PE ratio of 19.78 and a beta of 1.84.

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

Universal Forest Products 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