Itau Unibanco Holding S.A. bought a new stake in Universal Forest Products, Inc. (NASDAQ:UFPI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,246 shares of the construction company’s stock, valued at approximately $119,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its stake in Universal Forest Products by 5.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 29,092 shares of the construction company’s stock worth $1,065,000 after acquiring an additional 1,532 shares during the last quarter. Bahl & Gaynor Inc. boosted its stake in Universal Forest Products by 3.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 51,481 shares of the construction company’s stock worth $1,671,000 after acquiring an additional 1,691 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Universal Forest Products by 14.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 14,935 shares of the construction company’s stock worth $546,000 after acquiring an additional 1,936 shares during the last quarter. BancorpSouth Bank boosted its stake in Universal Forest Products by 10.4% during the 2nd quarter. BancorpSouth Bank now owns 20,814 shares of the construction company’s stock worth $762,000 after acquiring an additional 1,967 shares during the last quarter. Finally, Fox Run Management L.L.C. boosted its stake in Universal Forest Products by 29.8% during the 2nd quarter. Fox Run Management L.L.C. now owns 9,462 shares of the construction company’s stock worth $346,000 after acquiring an additional 2,170 shares during the last quarter. 79.78% of the stock is currently owned by institutional investors.

Universal Forest Products stock opened at $38.25 on Thursday. Universal Forest Products, Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $39.58. The company has a market cap of $2.32 billion, a P/E ratio of 20.79, a PEG ratio of 3.04 and a beta of 1.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.57 and a current ratio of 3.00.

Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, July 18th. The construction company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.02). Universal Forest Products had a return on equity of 13.07% and a net margin of 3.29%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $1.64 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. analysts expect that Universal Forest Products, Inc. will post 2.48 EPS for the current fiscal year.

In other Universal Forest Products news, insider Patrick M. Benton sold 6,243 shares of Universal Forest Products stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $37.20, for a total value of $232,239.60. Following the transaction, the insider now owns 64,385 shares of the company’s stock, valued at $2,395,122. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert D. Coleman sold 10,000 shares of Universal Forest Products stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $37.90, for a total transaction of $379,000.00. Following the completion of the transaction, the executive vice president now directly owns 5,040 shares in the company, valued at approximately $191,016. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,243 shares of company stock worth $798,940. Insiders own 3.40% of the company’s stock.

UFPI has been the topic of several recent analyst reports. BidaskClub raised shares of Universal Forest Products from a “hold” rating to a “buy” rating in a research note on Thursday. Seaport Global Securities initiated coverage on shares of Universal Forest Products in a research note on Friday, August 3rd. They set a “buy” rating and a $47.00 price objective on the stock. ValuEngine raised shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Finally, Zacks Investment Research raised shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Universal Forest Products presently has a consensus rating of “Hold” and an average target price of $41.33.

About Universal Forest Products

Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood composite decking, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

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

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