BlackRock Investment Management LLC Has $8,268,000 Position in Universal Forest Products, Inc. (UFPI)

BlackRock Investment Management LLC increased its stake in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,944 shares of the company’s stock after buying an additional 236 shares during the period. BlackRock Investment Management LLC owned approximately 0.41% of Universal Forest Products worth $8,268,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Universal Forest Products by 15.0% in the second quarter. Vanguard Group Inc. now owns 1,844,299 shares of the company’s stock valued at $170,949,000 after buying an additional 239,898 shares during the last quarter. Copper Rock Capital Partners LLC raised its position in Universal Forest Products by 750.2% in the third quarter. Copper Rock Capital Partners LLC now owns 263,730 shares of the company’s stock valued at $26,088,000 after buying an additional 232,710 shares during the last quarter. JPMorgan Chase & Co. raised its position in Universal Forest Products by 173.9% in the second quarter. JPMorgan Chase & Co. now owns 258,559 shares of the company’s stock valued at $23,966,000 after buying an additional 164,154 shares during the last quarter. State Street Corp raised its position in Universal Forest Products by 28.8% in the second quarter. State Street Corp now owns 556,128 shares of the company’s stock valued at $51,552,000 after buying an additional 124,413 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its position 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 valued at $15,023,000 after buying an additional 102,877 shares during the last quarter. 81.32% of the stock is currently owned by hedge funds and other institutional investors.

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

Universal Forest Products, Inc. (NASDAQ:UFPI) traded up 0.16% during trading on Wednesday, reaching $103.16. The company’s stock had a trading volume of 32,133 shares. The firm has a 50 day moving average price of $103.37 and a 200-day moving average price of $100.25. Universal Forest Products, Inc. has a 52-week low of $59.66 and a 52-week high of $110.97. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 21.18 and a beta of 1.67.

Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Universal Forest Products had a return on equity of 12.31% and a net margin of 3.27%. The company had revenue of $826.70 million for the quarter, compared to analyst estimates of $856.33 million. During the same quarter last year, the company posted $1.26 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts expect that Universal Forest Products, Inc. will post $4.94 earnings per share for the current year.

The firm also recently declared a semiannual dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a $0.45 dividend. This is a positive change from Universal Forest Products’s previous semiannual dividend of $0.42. The ex-dividend date was Tuesday, November 29th. This represents a dividend yield of 0.95%. Universal Forest Products’s dividend payout ratio (DPR) is presently 18.44%.

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Several equities analysts have weighed in on UFPI shares. Zacks Investment Research raised Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $107.00 target price on the stock in a research note on Monday, October 24th. DA Davidson raised Universal Forest Products from a “neutral” rating to a “buy” rating and increased their target price for the company from $105.00 to $110.00 in a research note on Thursday, October 20th. They noted that the move was a valuation call.

In other news, VP Patrick M. Benton sold 1,368 shares of Universal Forest Products stock in a transaction on Monday, November 28th. The stock was sold at an average price of $102.56, for a total value of $140,302.08. Following the transaction, the vice president now owns 9,482 shares in the company, valued at approximately $972,473.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Charles Scott Greene sold 4,000 shares of Universal Forest Products stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $104.00, for a total value of $416,000.00. Following the completion of the transaction, the vice president now owns 5,298 shares in the company, valued at approximately $550,992. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

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.

5 Day Chart for NASDAQ:UFPI

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