Universal Forest Products Inc. (UFPI) Stock Price Down 2.1%
Shares of Universal Forest Products Inc. (NASDAQ:UFPI) fell 2.1% on Friday . The stock traded as low as $98.82 and last traded at $98.89, with a volume of 99,021 shares traded. The stock had previously closed at $100.96.
Several research firms have recently weighed in on UFPI. Zacks Investment Research upgraded Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $99.00 target price for the company in a research report on Monday, April 25th. Sidoti started coverage on Universal Forest Products in a report on Thursday, April 14th. They issued a “neutral” rating for the company. Finally, DA Davidson downgraded Universal Forest Products from a “neutral” rating to an “underperform” rating and set a $75.00 price objective for the company. in a report on Friday, April 8th.
The stock has a market capitalization of $2.03 billion and a PE ratio of 22.54. The firm’s 50 day moving average is $89.90 and its 200-day moving average is $79.17.
Universal Forest Products (NASDAQ:UFPI) last issued its earnings results on Wednesday, April 20th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.12. The company earned $682.20 million during the quarter, compared to analysts’ expectations of $678.85 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Universal Forest Products Inc. will post $4.61 EPS for the current fiscal 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 $0.42 dividend. This represents a yield of 1.03%. The ex-dividend date was Friday, May 27th.
A number of hedge funds recently modified their holdings of the stock. Nationwide Fund Advisors boosted its stake 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 valued at $1,084,000 after buying an additional 155 shares during the last quarter. SECOR Capital Advisors LP bought a new stake in shares of Universal Forest Products during the fourth quarter valued at about $1,090,000. Wells Fargo & Company MN boosted its stake in shares of Universal Forest Products by 50.4% in the fourth quarter. Wells Fargo & Company MN now owns 19,515 shares of the company’s stock valued at $1,335,000 after buying an additional 6,543 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of 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 valued at $1,340,000 after buying an additional 1,200 shares during the last quarter. Finally, Systematic Financial Management LP bought a new stake in shares of Universal Forest Products during the fourth quarter valued at about $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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