Allianz Asset Management GmbH Raises Stake in Universal Forest Products, Inc. (UFPI)
Allianz Asset Management GmbH boosted its stake in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 166.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 468,674 shares of the construction company’s stock after acquiring an additional 292,650 shares during the quarter. Allianz Asset Management GmbH owned about 2.30% of Universal Forest Products worth $46,005,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of UFPI. Riverhead Capital Management LLC increased its stake in Universal Forest Products by 77.6% during the second quarter. Riverhead Capital Management LLC now owns 1,598 shares of the construction company’s stock worth $140,000 after acquiring an additional 698 shares during the last quarter. Flinton Capital Management LLC increased its stake in Universal Forest Products by 68.6% during the second quarter. Flinton Capital Management LLC now owns 1,652 shares of the construction company’s stock worth $144,000 after acquiring an additional 672 shares during the last quarter. Optimum Investment Advisors bought a new stake in Universal Forest Products during the second quarter worth approximately $210,000. Verity Asset Management Inc. bought a new stake in Universal Forest Products during the third quarter worth approximately $219,000. Finally, Amalgamated Bank increased its stake in Universal Forest Products by 5.0% during the second quarter. Amalgamated Bank now owns 2,768 shares of the construction company’s stock worth $242,000 after acquiring an additional 133 shares during the last quarter. 26.71% of the stock is currently owned by institutional investors.
Universal Forest Products, Inc. (NASDAQ UFPI) opened at $37.78 on Thursday. Universal Forest Products, Inc. has a 12-month low of $25.93 and a 12-month high of $39.58. The stock has a market capitalization of $2,392.52, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 2.09 and a beta of 1.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 2.62.
Universal Forest Products (NASDAQ:UFPI) last announced its earnings results on Tuesday, October 17th. The construction company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Universal Forest Products had a return on equity of 12.05% and a net margin of 2.85%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $984.99 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. equities research analysts forecast that Universal Forest Products, Inc. will post 1.87 EPS for the current fiscal year.
The company also recently declared a semiannual dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.17 dividend. This is a positive change from Universal Forest Products’s previous semiannual dividend of $0.15. The ex-dividend date is Thursday, November 30th. This represents a dividend yield of 0.31%. Universal Forest Products’s payout ratio is presently 19.14%.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $41.67 price objective on the stock in a research note on Monday, October 23rd. BMO Capital Markets began coverage on Universal Forest Products in a research report on Tuesday, October 17th. They set a “market perform” rating and a $36.67 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.17.
In related news, VP Charles Scott Greene sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $39.05, for a total value of $117,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert D. Coleman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $110.15, for a total value of $550,750.00. Following the completion of the sale, the executive vice president now owns 1,680 shares of the company’s stock, valued at approximately $185,052. The disclosure for this sale can be found here. Insiders sold 15,096 shares of company stock valued at $1,401,455 in the last quarter. 3.40% of the stock is owned by company insiders.
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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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