Universal Forest Products, Inc. (UFPI) Stake Boosted by First Trust Advisors LP

First Trust Advisors LP increased its holdings in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 14.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,547 shares of the construction company’s stock after purchasing an additional 2,905 shares during the period. First Trust Advisors LP owned approximately 0.12% of Universal Forest Products worth $2,311,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in UFPI. Victory Capital Management Inc. lifted its holdings in shares of Universal Forest Products by 141.5% during the 2nd quarter. Victory Capital Management Inc. now owns 168,879 shares of the construction company’s stock valued at $14,745,000 after purchasing an additional 98,948 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Universal Forest Products by 2.6% during the 2nd quarter. BlackRock Inc. now owns 3,268,039 shares of the construction company’s stock valued at $285,334,000 after purchasing an additional 82,962 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Universal Forest Products by 17.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 434,215 shares of the construction company’s stock valued at $37,911,000 after purchasing an additional 64,958 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Universal Forest Products by 30.7% during the 2nd quarter. Voya Investment Management LLC now owns 229,351 shares of the construction company’s stock valued at $20,025,000 after purchasing an additional 53,870 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Universal Forest Products by 10.8% during the 2nd quarter. Franklin Resources Inc. now owns 549,212 shares of the construction company’s stock valued at $47,952,000 after purchasing an additional 53,700 shares in the last quarter. Institutional investors and hedge funds own 79.67% of the company’s stock.

Several equities analysts have recently weighed in on the company. BMO Capital Markets began coverage on Universal Forest Products in a report on Tuesday, October 17th. They set a “market perform” rating and a $36.67 price objective on the stock. Zacks Investment Research upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, BidaskClub cut Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Universal Forest Products has a consensus rating of “Hold” and a consensus target price of $39.17.

Shares of Universal Forest Products, Inc. (NASDAQ:UFPI) opened at $37.44 on Friday. The company has a market capitalization of $2,284.25, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.00 and a beta of 1.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.40. Universal Forest Products, Inc. has a 12 month low of $25.93 and a 12 month high of $38.09.

Universal Forest Products (NASDAQ:UFPI) last released its earnings results on Tuesday, October 17th. The construction company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $984.99 million. Universal Forest Products had a return on equity of 12.05% and a net margin of 2.85%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. equities research analysts expect that Universal Forest Products, Inc. will post 1.87 earnings per share for the current fiscal year.

The company also recently announced a semiannual dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.17 dividend. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 30th. This represents a yield of 0.31%. Universal Forest Products’s payout ratio is presently 16.89%.

In other Universal Forest Products news, insider Patrick M. Webster sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $88.80, for a total value of $133,200.00. Following the sale, the insider now owns 59,915 shares in the company, valued at approximately $5,320,452. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert D. Coleman sold 4,100 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $111.41, for a total value of $456,781.00. Following the completion of the sale, the executive vice president now owns 1,680 shares in the company, valued at approximately $187,168.80. The disclosure for this sale can be found here. Insiders sold a total of 12,096 shares of company stock worth $1,284,305 in the last 90 days. Company insiders own 3.40% of the company’s stock.

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

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

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