Teachers Advisors LLC Increases Holdings in Universal Forest Products, Inc. (UFPI)
Teachers Advisors LLC boosted its holdings in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 212,352 shares of the construction company’s stock after acquiring an additional 1,793 shares during the quarter. Teachers Advisors LLC owned 0.34% of Universal Forest Products worth $7,502,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in UFPI. Moneta Group Investment Advisors LLC raised its stake in shares of Universal Forest Products by 82.8% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 4,615 shares of the construction company’s stock worth $169,000 after purchasing an additional 2,090 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of Universal Forest Products during the 3rd quarter worth about $170,000. Macquarie Group Ltd. raised its stake in shares of Universal Forest Products by 111.8% during the 2nd quarter. Macquarie Group Ltd. now owns 7,200 shares of the construction company’s stock worth $264,000 after purchasing an additional 3,800 shares in the last quarter. Vident Investment Advisory LLC purchased a new stake in shares of Universal Forest Products during the 3rd quarter worth about $297,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Universal Forest Products during the 2nd quarter worth about $326,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.
UFPI opened at $28.83 on Monday. Universal Forest Products, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $39.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.92 and a quick ratio of 1.50. The stock has a market cap of $1.76 billion, a PE ratio of 15.67, a PEG ratio of 2.07 and a beta of 1.67.
The company also recently declared a quarterly dividend, which was paid on Saturday, December 15th. Stockholders of record on Saturday, December 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, November 29th. Universal Forest Products’s dividend payout ratio (DPR) is presently 19.57%.
In other news, Director Michael G. Wooldridge purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, December 12th. The stock was bought at an average cost of $26.80 per share, with a total value of $67,000.00. Following the purchase, the director now directly owns 7,924 shares of the company’s stock, valued at $212,363.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.40% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on the company. BidaskClub raised Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Thursday, December 20th. ValuEngine downgraded Universal Forest Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 18th. Finally, Zacks Investment Research raised Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Universal Forest Products presently has a consensus rating of “Hold” and a consensus target price of $41.33.
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About Universal Forest Products
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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