Universal Forest Products Inc. (NASDAQ:UFPI) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $108.39 and last traded at $107.83, with a volume of 103,849 shares trading hands. The stock had previously closed at $105.51.

A number of research firms recently issued reports on UFPI. Zacks Investment Research upgraded shares of Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $121.00 target price on the stock in a research report on Tuesday. DA Davidson upgraded shares of Universal Forest Products from an “underperform” rating to a “neutral” rating in a research report on Friday. Finally, Sidoti began coverage on shares of Universal Forest Products in a research report on Thursday, April 14th. They set a “neutral” rating on the stock.

The firm has a 50-day moving average of $93.24 and a 200-day moving average of $81.01. The firm has a market cap of $2.19 billion and a PE ratio of 22.43.

Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.16. During the same quarter in the previous year, the company posted $1.28 EPS. The company had revenue of $872.10 million for the quarter, compared to analysts’ expectations of $903.33 million. The business’s quarterly revenue was up 4.0% on a year-over-year basis.

Other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in 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 last quarter. Russell Frank Co increased 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 last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Universal Forest Products by 21.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 81,027 shares of the company’s stock worth $5,540,000 after buying an additional 14,527 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Universal Forest Products by 3.5% in the fourth quarter. Rhumbline Advisers now owns 39,410 shares of the company’s stock worth $2,694,000 after buying an additional 1,350 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Universal Forest Products by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 37,319 shares of the company’s stock worth $2,552,000 after buying an additional 600 shares during the last quarter.

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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