Universal Forest Products Inc. (UFPI) Sets New 12-Month High at $97.47
Universal Forest Products Inc. (NASDAQ:UFPI) hit a new 52-week high on Wednesday . The company traded as high as $97.47 and last traded at $97.41, with a volume of 99,042 shares traded. The stock had previously closed at $95.27.
A number of research analysts have recently issued reports on UFPI shares. DA Davidson downgraded Universal Forest Products from a “neutral” rating to an “underperform” rating and set a $75.00 price objective on the stock. in a research note on Friday, April 8th. Zacks Investment Research downgraded Universal Forest Products from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Finally, Sidoti started coverage on Universal Forest Products in a research note on Thursday, April 14th. They issued a “neutral” rating for the company.
The stock has a 50 day moving average price of $87.20 and a 200 day moving average price of $78.10. The firm has a market cap of $1.98 billion and a P/E ratio of 21.98.
Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. The firm earned $682.20 million during the quarter, compared to analysts’ expectations of $678.85 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Universal Forest Products’s revenue was up 7.8% on a year-over-year basis. Analysts expect that Universal Forest Products Inc. will post $4.61 EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were issued a $0.42 dividend. The ex-dividend date was Friday, May 27th. This represents a yield of 1.03%.
Other institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors raised its position in shares of Universal Forest Products by 1.0% in the fourth quarter. Nationwide Fund Advisors now owns 15,848 shares of the company’s stock worth $1,084,000 after buying an additional 155 shares during the last quarter. SECOR Capital Advisors LP bought a new stake in Universal Forest Products during the fourth quarter worth approximately $1,090,000. Wells Fargo & Company MN increased its stake in Universal Forest Products by 50.4% in the fourth quarter. Wells Fargo & Company MN now owns 19,515 shares of the company’s stock worth $1,335,000 after buying an additional 6,543 shares during the period. New York State Common Retirement Fund increased its stake in Universal Forest Products by 6.5% in the fourth quarter. New York State Common Retirement Fund now owns 19,600 shares of the company’s stock worth $1,340,000 after buying an additional 1,200 shares during the period. Finally, Systematic Financial Management LP bought a new stake in Universal Forest Products during the fourth quarter worth approximately $1,682,000.
Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets: retail, construction and industrial. Its industrial market serves as industrial manufacturers and other customers for packaging, material handling and other applications.
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