Principal Financial Group Inc. Cuts Position in Universal Forest Products, Inc. (UFPI)

Principal Financial Group Inc. reduced its stake in Universal Forest Products, Inc. (NASDAQ:UFPI) by 59.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,163 shares of the construction company’s stock after selling 248,607 shares during the quarter. Principal Financial Group Inc. owned 0.81% of Universal Forest Products worth $14,508,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. lifted its position in Universal Forest Products by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 5,090 shares of the construction company’s stock worth $444,000 after buying an additional 14 shares in the last quarter. Renaissance Group LLC lifted its position in Universal Forest Products by 0.8% during the 2nd quarter. Renaissance Group LLC now owns 3,386 shares of the construction company’s stock worth $296,000 after buying an additional 28 shares in the last quarter. Suntrust Banks Inc. lifted its position in Universal Forest Products by 1.1% during the 1st quarter. Suntrust Banks Inc. now owns 3,373 shares of the construction company’s stock worth $331,000 after buying an additional 37 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Universal Forest Products by 1.0% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 6,950 shares of the construction company’s stock worth $685,000 after buying an additional 70 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Universal Forest Products by 0.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,380 shares of the construction company’s stock worth $1,430,000 after buying an additional 100 shares in the last quarter. 80.27% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Patrick M. Webster sold 1,500 shares of Universal Forest Products stock in a transaction dated 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 in the company, valued at $5,320,452. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick M. Webster sold 996 shares of Universal Forest Products stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $88.93, for a total transaction of $88,574.28. Following the transaction, the insider now owns 58,919 shares of the company’s stock, valued at $5,239,666.67. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Shares of Universal Forest Products, Inc. (UFPI) opened at 91.14 on Wednesday. The company has a market capitalization of $1.86 billion, a PE ratio of 18.08 and a beta of 1.84. The firm’s 50-day moving average is $84.52 and its 200 day moving average is $89.66. Universal Forest Products, Inc. has a 12 month low of $77.80 and a 12 month high of $108.79.

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 analysts’ consensus estimates of $1.85 by ($0.21). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. Universal Forest Products had a net margin of 2.86% and a return on equity of 11.73%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. Equities research analysts predict that Universal Forest Products, Inc. will post $5.60 EPS for the current year.

UFPI has been the topic of several analyst reports. Zacks Investment Research cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. ValuEngine cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Universal Forest Products from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Sidoti initiated coverage on shares of Universal Forest Products in a research report on Tuesday, July 25th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Universal Forest Products currently has a consensus rating of “Hold” and a consensus target price of $105.50.

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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.

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

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