Universal Forest Products, Inc. (UFPI) Position Boosted by Legal & General Group Plc

Legal & General Group Plc increased its holdings in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 10.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 39,292 shares of the construction company’s stock after acquiring an additional 3,589 shares during the period. Legal & General Group Plc owned about 0.19% of Universal Forest Products worth $3,430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UFPI. BlackRock Inc. raised its position in Universal Forest Products by 24,097.2% during the 1st quarter. BlackRock Inc. now owns 3,185,077 shares of the construction company’s stock valued at $313,858,000 after purchasing an additional 3,171,914 shares in the last quarter. Principal Financial Group Inc. raised its position in Universal Forest Products by 27.2% during the 1st quarter. Principal Financial Group Inc. now owns 414,770 shares of the construction company’s stock valued at $40,871,000 after purchasing an additional 88,604 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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. Bank of America Corp DE raised its position in Universal Forest Products by 45.3% during the 1st quarter. Bank of America Corp DE now owns 207,854 shares of the construction company’s stock valued at $20,482,000 after purchasing an additional 64,783 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Universal Forest Products by 211.1% during the 1st quarter. Victory Capital Management Inc. now owns 69,931 shares of the construction company’s stock valued at $6,891,000 after purchasing an additional 47,453 shares in the last quarter. 80.27% of the stock is owned by institutional investors and hedge funds.

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In other news, insider Patrick M. Webster sold 996 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $88.93, for a total value of $88,574.28. Following the sale, the insider now directly owns 58,919 shares in the company, valued at $5,239,666.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick M. Webster sold 1,500 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $88.80, for a total value of $133,200.00. Following the completion of the sale, the insider now owns 59,915 shares in the company, valued at $5,320,452. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub lowered Universal Forest Products from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Sidoti assumed coverage on Universal Forest Products in a research report on Tuesday, July 25th. They set a “buy” rating for the company. Finally, ValuEngine lowered Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Universal Forest Products has an average rating of “Hold” and an average price target of $105.50.

Universal Forest Products, Inc. (UFPI) opened at 94.65 on Friday. The stock has a 50 day moving average price of $84.52 and a 200-day moving average price of $89.66. Universal Forest Products, Inc. has a one year low of $77.80 and a one year high of $108.79. The stock has a market capitalization of $1.93 billion, a P/E ratio of 18.78 and a beta of 1.84.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 18th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by ($0.21). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. Universal Forest Products had a net margin of 2.86% and a return on equity of 11.73%. The firm’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 earnings per share. Analysts anticipate 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.

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

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