Universal Forest Products Inc. (UFPI) Sees Strong Trading Volume
Universal Forest Products Inc. (NASDAQ:UFPI) shares saw strong trading volume on Monday . 292,252 shares were traded during trading, an increase of 18% from the previous session’s volume of 246,897 shares.The stock last traded at $100.13 and had previously closed at $98.84.
Several analysts recently commented on the company. Zacks Investment Research raised Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a report on Monday, April 25th. Sidoti assumed coverage on Universal Forest Products in a report on Thursday, April 14th. They set a “neutral” rating on the stock. Finally, DA Davidson lowered Universal Forest Products from a “neutral” rating to an “underperform” rating and set a $75.00 target price on the stock. in a report on Friday, April 8th.
The company’s 50 day moving average is $88.31 and its 200 day moving average is $78.69. The firm has a market cap of $2.03 billion and a P/E ratio of 22.62.
Universal Forest Products (NASDAQ:UFPI) last announced its earnings results on Wednesday, April 20th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.12. The company had revenue of $682.20 million for the quarter, compared to analyst estimates of $678.85 million. Universal Forest Products’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS. On average, equities research analysts anticipate that Universal Forest Products Inc. will post $4.61 EPS for the current year.
The business also recently announced a semiannual dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were issued a dividend of $0.42 per share. This represents a yield of 1.03%. The ex-dividend date was Friday, May 27th.
Other large investors recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Universal Forest Products by 27.6% in the fourth quarter. Principal Financial Group Inc. now owns 368,542 shares of the company’s stock worth $25,197,000 after buying an additional 79,738 shares during the period. Russell Frank Co boosted its stake in shares of Universal Forest Products by 189.1% in the fourth quarter. Russell Frank Co now owns 93,615 shares of the company’s stock worth $6,404,000 after buying an additional 61,239 shares during the period. American Century Companies Inc. boosted its stake in shares of Universal Forest Products by 263.2% in the fourth quarter. American Century Companies Inc. now owns 53,959 shares of the company’s stock worth $3,689,000 after buying an additional 39,104 shares during the period. Systematic Financial Management LP bought a new stake in shares of Universal Forest Products during the fourth quarter worth approximately $1,682,000. Finally, SECOR Capital Advisors LP bought a new stake in shares of Universal Forest Products during the fourth quarter worth approximately $1,090,000.
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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