Shares of Universal Forest Products, Inc. (NASDAQ:UFPI) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $25.99 and last traded at $26.55, with a volume of 15234 shares changing hands. The stock had previously closed at $26.32.
Several brokerages have issued reports on UFPI. BidaskClub raised shares of Universal Forest Products from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Zacks Investment Research raised shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Finally, ValuEngine downgraded shares of Universal Forest Products from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $41.33.
The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.50 and a current ratio of 2.92. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 2.32 and a beta of 1.84.
Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, October 16th. The construction company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). Universal Forest Products had a return on equity of 13.35% and a net margin of 3.34%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $0.55 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts anticipate that Universal Forest Products, Inc. will post 2.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 15th. Stockholders of record on Saturday, December 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, November 29th. Universal Forest Products’s payout ratio is currently 19.57%.
In other news, EVP Robert D. Coleman sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $37.90, for a total transaction of $379,000.00. Following the completion of the sale, the executive vice president now owns 5,040 shares of the company’s stock, valued at $191,016. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its stake in Universal Forest Products by 5.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 29,092 shares of the construction company’s stock worth $1,065,000 after purchasing an additional 1,532 shares during the last quarter. Teachers Advisors LLC lifted its stake in Universal Forest Products by 0.9% during the third quarter. Teachers Advisors LLC now owns 212,352 shares of the construction company’s stock worth $7,502,000 after purchasing an additional 1,793 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in Universal Forest Products by 19.4% during the third quarter. Fox Run Management L.L.C. now owns 11,295 shares of the construction company’s stock worth $399,000 after purchasing an additional 1,833 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Universal Forest Products by 14.9% during the second quarter. Envestnet Asset Management Inc. now owns 14,935 shares of the construction company’s stock worth $546,000 after purchasing an additional 1,936 shares during the last quarter. Finally, BancorpSouth Bank lifted its stake in Universal Forest Products by 10.4% during the second quarter. BancorpSouth Bank now owns 20,814 shares of the construction company’s stock worth $762,000 after purchasing an additional 1,967 shares during the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.
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Universal Forest Products Company Profile (NASDAQ:UFPI)
Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood composite decking, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.
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