BlackRock Inc. lifted its holdings in Universal Forest Products, Inc. (NASDAQ:UFPI) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,268,039 shares of the construction company’s stock after acquiring an additional 82,962 shares during the quarter. BlackRock Inc. owned 15.93% of Universal Forest Products worth $285,334,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in UFPI. TIAA CREF Investment Management LLC boosted its stake in shares of Universal Forest Products by 6.9% in the second quarter. TIAA CREF Investment Management LLC now owns 164,037 shares of the construction company’s stock worth $14,322,000 after buying an additional 10,592 shares during the last quarter. Riverhead Capital Management LLC grew its holdings 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 period. Wells Fargo & Company MN grew its holdings in Universal Forest Products by 54.2% during the second quarter. Wells Fargo & Company MN now owns 95,182 shares of the construction company’s stock worth $8,309,000 after acquiring an additional 33,436 shares during the period. Franklin Resources Inc. grew its holdings in Universal Forest Products by 10.8% during the second quarter. Franklin Resources Inc. now owns 549,212 shares of the construction company’s stock worth $47,952,000 after acquiring an additional 53,700 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Universal Forest Products during the second quarter worth about $381,000. Hedge funds and other institutional investors own 80.27% of the company’s stock.

In other Universal Forest Products news, insider Patrick M. Webster sold 1,500 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $88.80, for a total value of $133,200.00. Following the completion of the transaction, the insider now owns 59,915 shares in the company, valued at $5,320,452. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick M. Webster sold 996 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $88.93, for a total value of $88,574.28. Following the completion of the sale, the insider now directly owns 58,919 shares of the company’s stock, valued at approximately $5,239,666.67. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

UFPI has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Universal Forest Products from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. BidaskClub cut shares of Universal Forest Products from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Sidoti assumed coverage on shares of Universal Forest Products in a report on Tuesday, July 25th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $105.50.

WARNING: This piece was originally published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://www.watchlistnews.com/blackrock-inc-grows-stake-in-universal-forest-products-inc-ufpi/1606947.html.

Universal Forest Products, Inc. (UFPI) opened at 101.62 on Wednesday. The firm’s 50-day moving average price is $88.31 and its 200-day moving average price is $89.66. The stock has a market cap of $2.08 billion, a P/E ratio of 20.16 and a beta of 1.84. 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 posted its quarterly earnings results on Tuesday, July 18th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.85 by ($0.21). The business had revenue of $1.07 billion during 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 period in the prior year, the business earned $1.64 earnings per share. On average, analysts predict that Universal Forest Products, Inc. will post $5.60 earnings per share for the current year.

About Universal Forest Products

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.

Want to see what other hedge funds are holding UFPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Forest Products, Inc. (NASDAQ:UFPI).

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

Receive News & Ratings for Universal Forest Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Forest Products Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.