Convergence Investment Partners LLC reduced its stake in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 68.6% during the third quarter, Holdings Channel reports. The fund owned 12,930 shares of the company’s stock after selling 28,310 shares during the period. Convergence Investment Partners LLC owned 0.06% of Universal Forest Products worth $1,273,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Copper Rock Capital Partners LLC increased its stake in Universal Forest Products by 750.2% in the third quarter. Copper Rock Capital Partners LLC now owns 263,730 shares of the company’s stock valued at $26,088,000 after buying an additional 232,710 shares during the last quarter. Foundry Partners LLC increased its stake in Universal Forest Products by 1.7% in the third quarter. Foundry Partners LLC now owns 71,768 shares of the company’s stock valued at $7,068,000 after buying an additional 1,230 shares in the last quarter. Teachers Advisors LLC increased its stake in Universal Forest Products by 25.2% in the third quarter. Teachers Advisors LLC now owns 176,403 shares of the company’s stock valued at $17,374,000 after buying an additional 35,553 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Universal Forest Products by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 280,905 shares of the company’s stock valued at $27,666,000 after buying an additional 22,346 shares in the last quarter. Finally, BlackRock Advisors LLC increased its stake in Universal Forest Products by 64.1% in the second quarter. BlackRock Advisors LLC now owns 107,232 shares of the company’s stock valued at $9,939,000 after buying an additional 41,869 shares in the last quarter. 81.32% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Universal Forest Products (NASDAQ:UFPI)

Shares of Universal Forest Products, Inc. (NASDAQ:UFPI) traded up 2.24% during trading on Friday, hitting $102.77. The stock had a trading volume of 41,724 shares. The firm has a market cap of $2.09 billion, a P/E ratio of 21.10 and a beta of 1.67. The firm’s 50-day moving average is $103.37 and its 200-day moving average is $100.25. Universal Forest Products, Inc. has a one year low of $59.66 and a one year high of $110.97.

Universal Forest Products (NASDAQ:UFPI) last announced its earnings results on Tuesday, October 18th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.01. The company earned $826.70 million during the quarter, compared to the consensus estimate of $856.33 million. Universal Forest Products had a return on equity of 12.31% and a net margin of 3.27%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. Equities research analysts forecast that Universal Forest Products, Inc. will post $4.94 EPS for the current year.

The firm also recently announced a semiannual dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, November 29th. This is an increase from Universal Forest Products’s previous semiannual dividend of $0.42. This represents a dividend yield of 0.95%. Universal Forest Products’s dividend payout ratio (DPR) is currently 18.44%.

COPYRIGHT VIOLATION NOTICE: “Convergence Investment Partners LLC Lowers Position in Universal Forest Products, Inc. (UFPI)” was originally published by Daily Political and is the propert of of Daily Political. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this piece of content can be accessed at http://www.dailypolitical.com/2017/01/13/convergence-investment-partners-llc-lowers-position-in-universal-forest-products-inc-ufpi.html.

Several analysts have commented on the company. DA Davidson raised Universal Forest Products from a “neutral” rating to a “buy” rating and upped their price objective for the company from $105.00 to $110.00 in a research note on Thursday, October 20th. They noted that the move was a valuation call. Zacks Investment Research raised Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $107.00 price objective for the company in a research note on Monday, October 24th.

In related news, VP Michael F. Mordell sold 1,700 shares of Universal Forest Products stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $107.32, for a total value of $182,444.00. Following the completion of the transaction, the vice president now directly owns 4,228 shares in the company, valued at $453,748.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Patrick M. Benton sold 1,368 shares of Universal Forest Products stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $102.56, for a total value of $140,302.08. Following the completion of the transaction, the vice president now owns 9,482 shares of the company’s stock, valued at $972,473.92. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Universal Forest Products Company Profile

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.

5 Day Chart for NASDAQ:UFPI

Want to see what other hedge funds are holding UFPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Forest Products, Inc. (NASDAQ:UFPI).

Receive News & Ratings for Universal Forest Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Forest Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.