Universal Forest Products Inc. (UFPI) Hits New 52-Week High at $101.76
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 $101.76 and last traded at $100.85, with a volume of 52,242 shares changing hands. The stock had previously closed at $100.14.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $99.00 price objective for the company in a research report on Monday, April 25th. Sidoti assumed coverage on Universal Forest Products in a research report on Thursday, April 14th. They set a “neutral” rating for the company. Finally, DA Davidson cut Universal Forest Products from a “neutral” rating to an “underperform” rating and set a $75.00 price objective for the company. in a research report on Friday, April 8th.
The firm has a 50-day moving average of $88.31 and a 200-day moving average of $78.69. The stock has a market capitalization of $2.05 billion and a P/E ratio of 22.76.
Universal Forest Products (NASDAQ:UFPI) last announced its earnings results on Wednesday, April 20th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.12. During the same period in the prior year, the business earned $0.51 earnings per share. The company had revenue of $682.20 million for the quarter, compared to the consensus estimate of $678.85 million. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities 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. Investors of record on Wednesday, June 1st were given a dividend of $0.42 per share. This represents a yield of 1.03%. The ex-dividend date of this dividend was Friday, May 27th.
A number of hedge funds and institutional investors recently made changes to their positions in UFPI. Systematic Financial Management LP bought a new position in shares of Universal Forest Products during the fourth quarter valued at about $1,682,000. Principal Financial Group Inc. raised its position 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 valued at $25,197,000 after buying an additional 79,738 shares in the last quarter. Wells Fargo & Company MN raised its position 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 in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position 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 valued at $5,540,000 after buying an additional 14,527 shares in the last quarter. Finally, SECOR Capital Advisors LP bought a new position in shares of Universal Forest Products during the fourth quarter valued at about $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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