Universal Forest Products, Inc. (NASDAQ:UFPI) Stake Cut by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL reduced its holdings in Universal Forest Products, Inc. (NASDAQ:UFPI) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,600 shares of the construction company’s stock after selling 400 shares during the period. Virginia Retirement Systems ET AL’s holdings in Universal Forest Products were worth $632,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of UFPI. Versant Capital Management Inc raised its stake in shares of Universal Forest Products by 35.5% during the 1st quarter. Versant Capital Management Inc now owns 1,513 shares of the construction company’s stock worth $45,000 after purchasing an additional 396 shares in the last quarter. Strs Ohio purchased a new stake in shares of Universal Forest Products during the 2nd quarter worth about $60,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Universal Forest Products during the 1st quarter worth about $140,000. Public Employees Retirement System of Ohio raised its stake in shares of Universal Forest Products by 8.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 5,740 shares of the construction company’s stock worth $149,000 after purchasing an additional 470 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Universal Forest Products during the 1st quarter worth about $204,000. 80.96% of the stock is owned by institutional investors.

UFPI opened at $40.07 on Wednesday. Universal Forest Products, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $42.00. The business’s 50-day moving average price is $38.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.89 and a quick ratio of 1.50. The stock has a market cap of $2.46 billion, a P/E ratio of 17.20, a PEG ratio of 2.80 and a beta of 1.89.

Universal Forest Products (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. Universal Forest Products had a return on equity of 14.42% and a net margin of 3.63%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business earned $0.71 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts forecast that Universal Forest Products, Inc. will post 2.86 earnings per share for the current year.

UFPI has been the subject of a number of recent research reports. BidaskClub raised Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. ValuEngine downgraded Universal Forest Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st.

In other news, CEO Matthew J. Missad sold 12,000 shares of the 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 transaction, the chief executive officer now owns 246,381 shares of the company’s stock, valued at approximately $8,808,120.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Coleman sold 20,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $40.13, for a total value of $802,600.00. Following the transaction, the executive vice president now directly owns 1,200 shares in the company, valued at approximately $48,156. The disclosure for this sale can be found here. Insiders have sold a total of 47,935 shares of company stock valued at $1,734,059 over the last ninety days. Company insiders own 3.77% of the company’s stock.

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

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