Norges Bank bought a new position in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 929,478 shares of the construction company’s stock, valued at approximately $24,130,000. Norges Bank owned approximately 1.51% of Universal Forest Products as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new stake in Universal Forest Products during the 4th quarter valued at about $43,000. Claybrook Capital LLC purchased a new stake in Universal Forest Products during the 4th quarter valued at about $68,000. Bank of Montreal Can grew its stake in Universal Forest Products by 16.9% during the 4th quarter. Bank of Montreal Can now owns 3,009 shares of the construction company’s stock valued at $78,000 after acquiring an additional 435 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Universal Forest Products by 18.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,790 shares of the construction company’s stock valued at $124,000 after acquiring an additional 759 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in 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 valued at $149,000 after acquiring an additional 470 shares in the last quarter. 82.23% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ UFPI opened at $31.44 on Monday. Universal Forest Products, Inc. has a 12-month low of $24.14 and a 12-month high of $39.41. The stock has a market cap of $1.91 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 2.29 and a beta of 1.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.21 and a quick ratio of 1.42.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, February 20th. The construction company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $988.20 million during the quarter, compared to analysts’ expectations of $1.02 billion. Universal Forest Products had a net margin of 3.31% and a return on equity of 13.58%. Universal Forest Products’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. As a group, equities analysts forecast that Universal Forest Products, Inc. will post 2.74 earnings per share for the current year.

Several brokerages recently issued reports on UFPI. Zacks Investment Research cut shares of Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. BidaskClub cut shares of Universal Forest Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 27th. Finally, ValuEngine raised shares of Universal Forest Products from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th.

In other Universal Forest Products news, insider Allen T. Peters sold 8,131 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were 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 in the company, valued at approximately $3,532,080.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.77% of the company’s stock.

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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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