Universal Forest Products Inc. (UFPI) Reaches New 1-Year High at $101.76
Universal Forest Products Inc. (NASDAQ:UFPI) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $101.76 and last traded at $100.85, with a volume of 52,242 shares. The stock had previously closed at $100.14.
Several research analysts have commented on UFPI shares. Zacks Investment Research upgraded shares of Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $99.00 price target for the company in a report on Monday, April 25th. DA Davidson cut shares of Universal Forest Products from a “neutral” rating to an “underperform” rating and set a $75.00 price target for the company. in a report on Friday, April 8th. Finally, Sidoti started coverage on shares of Universal Forest Products in a report on Thursday, April 14th. They set a “neutral” rating for the company.
The stock’s 50-day moving average is $89.39 and its 200 day moving average is $79.01. The company has a market capitalization of $2.05 billion and a price-to-earnings ratio of 22.82.
Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, April 20th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.12. The firm had revenue of $682.20 million for the quarter, compared to analyst estimates of $678.85 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts expect that Universal Forest Products Inc. will post $4.61 earnings per share for the current year.
The company also recently declared a semiannual dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were issued a dividend of $0.42 per share. This represents a dividend yield of 1.03%. The ex-dividend date was Friday, May 27th.
Several large investors recently modified their holdings of UFPI. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Systematic Financial Management LP bought a new stake in shares of Universal Forest Products during the fourth quarter worth $1,682,000. Finally, SECOR Capital Advisors LP bought a new stake in shares of Universal Forest Products during the fourth quarter worth $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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