Universal Forest Products, Inc. (UFPI) Stake Lessened by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its stake in Universal Forest Products, Inc. (NASDAQ:UFPI) by 31.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,920 shares of the construction company’s stock after selling 30,262 shares during the quarter. Wells Fargo & Company MN owned 0.32% of Universal Forest Products worth $6,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Verity Asset Management Inc. bought a new position in Universal Forest Products in the third quarter valued at approximately $219,000. Legal & General Group Plc grew its stake in Universal Forest Products by 4.8% in the third quarter. Legal & General Group Plc now owns 41,161 shares of the construction company’s stock valued at $4,038,000 after purchasing an additional 1,869 shares in the last quarter. American International Group Inc. grew its stake in Universal Forest Products by 5.6% in the third quarter. American International Group Inc. now owns 15,895 shares of the construction company’s stock valued at $1,560,000 after purchasing an additional 847 shares in the last quarter. Yorktown Management & Research Co Inc grew its stake in Universal Forest Products by 44.0% in the third quarter. Yorktown Management & Research Co Inc now owns 3,600 shares of the construction company’s stock valued at $353,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Universal Forest Products by 2.2% in the third quarter. Rhumbline Advisers now owns 47,812 shares of the construction company’s stock valued at $4,693,000 after purchasing an additional 1,025 shares in the last quarter. 26.69% of the stock is currently owned by hedge funds and other institutional investors.

UFPI has been the subject of a number of recent analyst reports. Zacks Investment Research cut Universal Forest Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 19th. BidaskClub cut Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, BMO Capital Markets assumed coverage on Universal Forest Products in a report on Tuesday, October 17th. They set a “market perform” rating and a $36.67 price target for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.17.

In related news, CFO Michael R. Cole sold 500 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $110.00, for a total transaction of $55,000.00. Following the sale, the chief financial officer now owns 27,789 shares in the company, valued at approximately $3,056,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Charles Scott Greene sold 3,000 shares of Universal Forest Products stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $39.05, for a total value of $117,150.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,899 shares of company stock worth $2,159,694. Corporate insiders own 3.40% of the company’s stock.

Universal Forest Products, Inc. (NASDAQ:UFPI) opened at $37.45 on Wednesday. The firm has a market capitalization of $2,352.76, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.84. The company has a quick ratio of 1.40, a current ratio of 2.62 and a debt-to-equity ratio of 0.15. Universal Forest Products, Inc. has a fifty-two week low of $25.93 and a fifty-two week high of $39.58.

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

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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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