Rhumbline Advisers boosted its holdings in Universal Forest Products, Inc. (NASDAQ:UFPI) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 173,446 shares of the construction company’s stock after acquiring an additional 5,000 shares during the quarter. Rhumbline Advisers owned 0.28% of Universal Forest Products worth $6,128,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Universal Forest Products by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 481,510 shares of the construction company’s stock valued at $15,625,000 after acquiring an additional 10,361 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Universal Forest Products in the 2nd quarter valued at approximately $598,000. Wells Fargo & Company MN increased its holdings in shares of Universal Forest Products by 24.5% in the 2nd quarter. Wells Fargo & Company MN now owns 296,312 shares of the construction company’s stock valued at $10,850,000 after acquiring an additional 58,237 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Universal Forest Products by 191.7% in the 2nd quarter. Victory Capital Management Inc. now owns 958,897 shares of the construction company’s stock valued at $35,115,000 after acquiring an additional 630,203 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its holdings in shares of Universal Forest Products by 9.3% in the 2nd quarter. IndexIQ Advisors LLC now owns 67,407 shares of the construction company’s stock valued at $2,468,000 after acquiring an additional 5,719 shares during the last quarter. 80.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of UFPI opened at $26.32 on Wednesday. The firm has a market cap of $1.71 billion, a P/E ratio of 14.30, a P/E/G ratio of 2.42 and a beta of 1.84. The company has a quick ratio of 1.50, a current ratio of 2.92 and a debt-to-equity ratio of 0.17. Universal Forest Products, Inc. has a 12 month low of $26.16 and a 12 month high of $39.41.

Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, October 16th. The construction company reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.07). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Universal Forest Products had a return on equity of 13.35% and a net margin of 3.34%. Universal Forest Products’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, equities analysts forecast that Universal Forest Products, Inc. will post 2.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Saturday, December 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.74%. Universal Forest Products’s payout ratio is currently 19.57%.

In related news, EVP Robert D. Coleman sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $37.90, for a total transaction of $379,000.00. Following the completion of the transaction, the executive vice president now directly owns 5,040 shares in the company, valued at approximately $191,016. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.40% of the stock is owned by corporate insiders.

A number of brokerages recently commented on UFPI. BidaskClub upgraded Universal Forest Products from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. Zacks Investment Research upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Finally, ValuEngine downgraded Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.33.

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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 composite decking, 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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