Principal Financial Group Inc. Sells 3,336 Shares of Universal Forest Products Inc. (UFPI)
Principal Financial Group Inc. lowered its stake in Universal Forest Products Inc. (NASDAQ:UFPI) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 381,741 shares of the company’s stock after selling 3,336 shares during the period. Principal Financial Group Inc. owned about 1.88% of Universal Forest Products worth $35,383,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Cupps Capital Management LLC purchased a new stake in Universal Forest Products during the first quarter valued at approximately $2,068,000. Huntington Asset Advisors Inc. purchased a new stake in shares of Universal Forest Products during the first quarter worth about $588,000. Landscape Capital Management L.L.C. raised its stake in shares of Universal Forest Products by 85.1% in the first quarter. Landscape Capital Management L.L.C. now owns 13,700 shares of the company’s stock worth $1,176,000 after buying an additional 6,300 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Universal Forest Products by 569.0% in the first quarter. JPMorgan Chase & Co. now owns 94,405 shares of the company’s stock worth $8,102,000 after buying an additional 80,294 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Universal Forest Products by 9.2% in the first quarter. BlackRock Group LTD now owns 46,290 shares of the company’s stock worth $3,973,000 after buying an additional 3,915 shares during the last quarter. Institutional investors and hedge funds own 82.43% of the company’s stock.
Shares of Universal Forest Products Inc. (NASDAQ:UFPI) traded up 1.82% during mid-day trading on Wednesday, reaching $102.26. The company’s stock had a trading volume of 42,115 shares. Universal Forest Products Inc. has a 1-year low of $57.11 and a 1-year high of $110.97. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 21.39 and a beta of 1.66. The firm’s 50 day moving average price is $105.97 and its 200-day moving average price is $92.12.
Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.48 by $0.16. The business had revenue of $872.10 million for the quarter, compared to analyst estimates of $903.33 million. Universal Forest Products had a net margin of 3.27% and a return on equity of 12.38%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 earnings per share. On average, analysts predict that Universal Forest Products Inc. will post $4.84 EPS for the current year.
A number of analysts have issued reports on UFPI shares. Zacks Investment Research lowered Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. DA Davidson raised Universal Forest Products from an “underperform” rating to a “neutral” rating in a research report on Friday, July 22nd.
In other news, EVP Robert D. Coleman sold 7,500 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $108.53, for a total value of $813,975.00. Following the sale, the executive vice president now directly owns 1,680 shares in the company, valued at $182,330.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Charles Scott Greene sold 4,639 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $109.99, for a total transaction of $510,243.61. Following the completion of the sale, the vice president now owns 9,298 shares in the company, valued at $1,022,687.02. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.
About Universal Forest Products
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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