Universal Forest Products, Inc. (UFPI) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its position in Universal Forest Products, Inc. (NASDAQ:UFPI) by 31.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,920 shares of the construction company’s stock after selling 30,262 shares during the quarter. Wells Fargo & Company MN owned approximately 0.32% of Universal Forest Products worth $6,373,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. increased its stake in Universal Forest Products by 2.6% in the 2nd quarter. BlackRock Inc. now owns 3,268,039 shares of the construction company’s stock valued at $285,334,000 after buying an additional 82,962 shares during the period. Vanguard Group Inc. increased its stake in Universal Forest Products by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,821,981 shares of the construction company’s stock valued at $159,077,000 after buying an additional 49,058 shares during the period. Franklin Resources Inc. increased its stake in Universal Forest Products by 10.8% in the 2nd quarter. Franklin Resources Inc. now owns 549,212 shares of the construction company’s stock valued at $47,952,000 after buying an additional 53,700 shares during the period. Bank of New York Mellon Corp increased its stake in Universal Forest Products by 17.6% in 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 buying an additional 64,958 shares during the period. Finally, Northern Trust Corp increased its stake in Universal Forest Products by 2.6% in the 2nd quarter. Northern Trust Corp now owns 373,172 shares of the construction company’s stock valued at $32,582,000 after buying an additional 9,340 shares during the period. Institutional investors and hedge funds own 26.69% of the company’s stock.

In related news, EVP Robert D. Coleman sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $110.15, for a total value of $550,750.00. Following the transaction, the executive vice president now directly owns 1,680 shares in the company, valued at approximately $185,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael R. Cole sold 500 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $110.00, for a total transaction of $55,000.00. Following the completion of the transaction, the chief financial officer now owns 27,789 shares in the company, valued at $3,056,790. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,899 shares of company stock worth $2,159,694. 3.40% of the stock is currently owned by company insiders.

Universal Forest Products, Inc. (UFPI) opened at $37.62 on Tuesday. Universal Forest Products, Inc. has a 12 month low of $25.93 and a 12 month high of $39.58. The company has a market cap of $2,301.37, a price-to-earnings ratio of 21.17, a PEG ratio of 2.01 and a beta of 1.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 2.62.

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

The firm also recently declared a semiannual dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.17 per share. This is a positive change from Universal Forest Products’s previous semiannual dividend of $0.15. The ex-dividend date of this dividend was Thursday, November 30th. This represents a dividend yield of 0.31%. Universal Forest Products’s dividend payout ratio is 19.14%.

UFPI has been the topic of several research reports. BMO Capital Markets initiated coverage on shares of Universal Forest Products in a research note on Tuesday, October 17th. They issued a “market perform” rating and a $36.67 price objective on the stock. BidaskClub lowered shares of Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Zacks Investment Research upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $39.17.

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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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