Universal Forest Products, Inc. (NASDAQ:UFPI) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday, May 11th.
Separately, Zacks Investment Research upgraded shares of Universal Forest Products from a “sell” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Friday, March 17th.
Shares of Universal Forest Products (NASDAQ UFPI) opened at 89.02 on Thursday. The firm’s 50-day moving average is $89.69 and its 200-day moving average is $97.63. Universal Forest Products has a 52 week low of $83.24 and a 52 week high of $110.97. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 17.67 and a beta of 1.86.
Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, April 18th. The construction company reported $1.03 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.03. The firm had revenue of $846.10 million during the quarter, compared to analysts’ expectations of $812.57 million. Universal Forest Products had a net margin of 3.03% and a return on equity of 12.03%. Universal Forest Products’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Analysts forecast that Universal Forest Products will post $5.87 earnings per share for the current fiscal year.
The company also recently announced a semiannual dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a $0.45 dividend. This represents a dividend yield of 0.94%. The ex-dividend date of this dividend was Tuesday, May 30th. Universal Forest Products’s dividend payout ratio (DPR) is presently 17.82%.
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Several hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. boosted 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 valued at $331,000 after buying an additional 37 shares during the period. State of Alaska Department of Revenue increased its position in shares of 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 in the last quarter. Capital One National Association increased its position in shares of 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 in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of 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 in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of 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 in the last quarter. Institutional investors own 81.44% 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, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.
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