PNC Financial Services Group Inc. boosted its position in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 64.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 95,591 shares of the construction company’s stock after purchasing an additional 37,549 shares during the period. PNC Financial Services Group Inc. owned 0.47% of Universal Forest Products worth $8,347,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virginia Retirement Systems ET AL grew its holdings in shares of Universal Forest Products by 9.9% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 25,500 shares of the construction company’s stock valued at $2,226,000 after acquiring an additional 2,300 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Universal Forest Products by 17.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 434,215 shares of the construction company’s stock valued at $37,911,000 after acquiring an additional 64,958 shares in the last quarter. Alpha Windward LLC grew its holdings in shares of Universal Forest Products by 7.8% during the 2nd quarter. Alpha Windward LLC now owns 4,980 shares of the construction company’s stock valued at $435,000 after acquiring an additional 360 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Universal Forest Products by 141.5% during the 2nd quarter. Victory Capital Management Inc. now owns 168,879 shares of the construction company’s stock valued at $14,745,000 after acquiring an additional 98,948 shares in the last quarter. Finally, Credit Suisse AG grew its holdings in shares of Universal Forest Products by 39.5% during the 1st quarter. Credit Suisse AG now owns 46,760 shares of the construction company’s stock valued at $4,607,000 after acquiring an additional 13,236 shares in the last quarter. Hedge funds and other institutional investors own 80.27% of the company’s stock.

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UFPI has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Universal Forest Products from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Monday, June 5th. Sidoti initiated coverage on shares of Universal Forest Products in a report on Tuesday, July 25th. They set a “buy” rating on the stock. BidaskClub upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Finally, ValuEngine cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Universal Forest Products has an average rating of “Hold” and a consensus target price of $105.50.

Shares of Universal Forest Products, Inc. (NASDAQ UFPI) opened at 94.65 on Friday. The company has a 50 day moving average of $84.52 and a 200 day moving average of $89.66. Universal Forest Products, Inc. has a 1-year low of $77.80 and a 1-year high of $108.79. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 18.78 and a beta of 1.84.

Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, July 18th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.21). Universal Forest Products had a return on equity of 11.73% and a net margin of 2.86%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company earned $1.64 EPS. The firm’s revenue was up 23.0% on a year-over-year basis. On average, equities analysts forecast that Universal Forest Products, Inc. will post $5.60 earnings per share for the current fiscal year.

In related news, insider Patrick M. Webster sold 996 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $88.93, for a total value of $88,574.28. Following the completion of the transaction, the insider now owns 58,919 shares of the company’s stock, valued at $5,239,666.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick M. Webster sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $88.80, for a total transaction of $133,200.00. Following the completion of the transaction, the insider now directly owns 59,915 shares of the company’s stock, valued at approximately $5,320,452. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

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, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.

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

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