Universal Forest Products, Inc. (NASDAQ:UFPI) Expected to Post Quarterly Sales of $1.24 Billion
Equities analysts forecast that Universal Forest Products, Inc. (NASDAQ:UFPI) will announce $1.24 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Universal Forest Products’ earnings. The highest sales estimate is $1.30 billion and the lowest is $1.19 billion. Universal Forest Products posted sales of $1.29 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.9%. The business is scheduled to announce its next quarterly earnings report on Wednesday, July 17th.
According to Zacks, analysts expect that Universal Forest Products will report full-year sales of $4.52 billion for the current fiscal year, with estimates ranging from $4.48 billion to $4.56 billion. For the next financial year, analysts anticipate that the company will post sales of $4.70 billion, with estimates ranging from $4.68 billion to $4.72 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Universal Forest Products.
Universal Forest Products (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. Universal Forest Products had a net margin of 3.35% and a return on equity of 13.90%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year.
In other news, insider Allen T. Peters sold 8,131 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $30.25, for a total transaction of $245,962.75. Following the completion of the sale, the insider now directly owns 116,763 shares of the company’s stock, valued at $3,532,080.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Missad sold 12,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $35.75, for a total transaction of $429,000.00. Following the sale, the chief executive officer now directly owns 246,381 shares of the company’s stock, valued at $8,808,120.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,511 shares of company stock valued at $2,770,068. 3.77% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of UFPI. Norges Bank bought a new stake in shares of Universal Forest Products during the fourth quarter worth about $24,130,000. Victory Capital Management Inc. increased its position in shares of Universal Forest Products by 19.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,240,277 shares of the construction company’s stock worth $58,158,000 after acquiring an additional 360,027 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Universal Forest Products by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,745,377 shares of the construction company’s stock worth $123,190,000 after acquiring an additional 285,891 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Universal Forest Products by 14.6% during the first quarter. Westwood Holdings Group Inc. now owns 1,067,593 shares of the construction company’s stock worth $31,910,000 after acquiring an additional 136,112 shares in the last quarter. Finally, Hillcrest Asset Management LLC boosted its holdings in Universal Forest Products by 35.7% during the first quarter. Hillcrest Asset Management LLC now owns 395,108 shares of the construction company’s stock worth $11,810,000 after purchasing an additional 104,006 shares during the last quarter. 79.87% of the stock is owned by institutional investors.
UFPI opened at $36.10 on Wednesday. Universal Forest Products has a 1-year low of $24.14 and a 1-year high of $39.39. The company has a quick ratio of 1.63, a current ratio of 3.44 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 2.56 and a beta of 1.86.
The firm also recently announced a semiannual dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from Universal Forest Products’s previous semiannual dividend of $0.18. This represents a dividend yield of 1.02%. Universal Forest Products’s payout ratio is presently 17.17%.
Universal Forest Products Company Profile
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 and wood composite decking and related accessories, 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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