California Public Employees Retirement System grew its position in Universal Forest Products, Inc. (NASDAQ:UFPI) by 40.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 141,785 shares of the construction company’s stock after purchasing an additional 40,567 shares during the period. California Public Employees Retirement System’s holdings in Universal Forest Products were worth $4,238,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in UFPI. Bank of Montreal Can lifted its stake in Universal Forest Products by 16.9% during the fourth quarter. Bank of Montreal Can now owns 3,009 shares of the construction company’s stock worth $78,000 after purchasing an additional 435 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Universal Forest Products by 18.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,790 shares of the construction company’s stock worth $124,000 after purchasing an additional 759 shares during the last quarter. Arizona State Retirement System lifted its stake in Universal Forest Products by 6.2% during the fourth quarter. Arizona State Retirement System now owns 94,950 shares of the construction company’s stock worth $2,465,000 after purchasing an additional 5,545 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Universal Forest Products during the fourth quarter worth $43,000. Finally, Keybank National Association OH lifted its stake in Universal Forest Products by 40.3% during the fourth quarter. Keybank National Association OH now owns 42,496 shares of the construction company’s stock worth $1,103,000 after purchasing an additional 12,210 shares during the last quarter. 79.87% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on UFPI shares. BidaskClub cut Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Zacks Investment Research cut Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. Finally, ValuEngine upgraded Universal Forest Products from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th.

Shares of UFPI opened at $32.25 on Monday. Universal Forest Products, Inc. has a 52 week low of $24.14 and a 52 week high of $39.41. The firm has a market capitalization of $2.03 billion, a PE ratio of 13.84, a PEG ratio of 2.37 and a beta of 1.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 1.63.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.08. Universal Forest Products had a return on equity of 13.90% and a net margin of 3.35%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $0.53 EPS. Universal Forest Products’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts expect that Universal Forest Products, Inc. will post 2.79 EPS for the current year.

The company also recently declared a semiannual dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a $0.20 dividend. This represents a dividend yield of 1.02%. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.18. The ex-dividend date is Thursday, May 30th. Universal Forest Products’s dividend payout ratio is presently 17.17%.

In related news, insider Patrick M. Webster sold 2,809 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $36.22, for a total transaction of $101,741.98. Following the completion of the transaction, the insider now directly owns 232,968 shares of the company’s stock, valued at approximately $8,438,100.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Allen T. Peters sold 8,131 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $30.25, for a total value of $245,962.75. Following the transaction, the insider now directly owns 116,763 shares of the company’s stock, valued at $3,532,080.75. The disclosure for this sale can be found here. Insiders sold a total of 65,511 shares of company stock valued at $2,341,068 over the last quarter. 3.77% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY WARNING: This story was first published by Watch List News and is owned by of Watch List News. If you are reading this story on another site, it was illegally copied and reposted in violation of U.S. & international copyright law. The correct version of this story can be read at https://www.watchlistnews.com/california-public-employees-retirement-system-increases-stake-in-universal-forest-products-inc-ufpi/3029924.html.

Universal Forest Products 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.

Read More: Resistance Level

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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Forest Products and related companies with MarketBeat.com's FREE daily email newsletter.