American International Group Inc. boosted its stake in Universal Forest Products, Inc. (NASDAQ:UFPI) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,895 shares of the construction company’s stock after purchasing an additional 847 shares during the quarter. American International Group Inc. owned about 0.08% of Universal Forest Products worth $1,560,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Universal Forest Products by 2.6% in the 2nd quarter. BlackRock Inc. now owns 3,268,039 shares of the construction company’s stock worth $285,334,000 after purchasing an additional 82,962 shares in the last quarter. Vanguard Group Inc. lifted its stake in Universal Forest Products by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,821,981 shares of the construction company’s stock worth $159,077,000 after purchasing an additional 49,058 shares in the last quarter. Franklin Resources Inc. lifted its stake in Universal Forest Products by 10.8% in the 2nd quarter. Franklin Resources Inc. now owns 549,212 shares of the construction company’s stock worth $47,952,000 after purchasing an additional 53,700 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Universal Forest Products by 17.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 434,215 shares of the construction company’s stock worth $37,911,000 after purchasing an additional 64,958 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Universal Forest Products by 2.6% in the 2nd quarter. Northern Trust Corp now owns 373,172 shares of the construction company’s stock worth $32,582,000 after purchasing an additional 9,340 shares in the last quarter. Institutional investors and hedge funds own 26.71% of the company’s stock.

Shares of Universal Forest Products, Inc. (NASDAQ:UFPI) opened at $37.46 on Thursday. The company has a current ratio of 2.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2,328.29, a PE ratio of 21.42, a PEG ratio of 2.04 and a beta of 1.83. Universal Forest Products, Inc. has a 1 year low of $25.93 and a 1 year high of $39.58.

Universal Forest Products (NASDAQ:UFPI) last announced its earnings results on Tuesday, October 17th. The construction company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $984.99 million. Universal Forest Products had a net margin of 3.28% and a return on equity of 14.42%. The business’s revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. sell-side analysts anticipate that Universal Forest Products, Inc. will post 1.87 earnings per share for the current fiscal year.

The firm also recently announced a semiannual dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.17 per share. This represents a dividend yield of 0.31%. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.15. The ex-dividend date is Thursday, November 30th. Universal Forest Products’s dividend payout ratio is currently 19.14%.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $41.67 price target on the stock in a research note on Monday, October 23rd. BidaskClub cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, BMO Capital Markets started coverage on shares of Universal Forest Products in a research report on Tuesday, October 17th. They set a “market perform” rating and a $36.67 target price on the stock. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $39.17.

In other news, insider Patrick M. Webster sold 996 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $88.93, for a total transaction of $88,574.28. Following the sale, the insider now directly owns 58,919 shares in the company, valued at approximately $5,239,666.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles Scott Greene sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $39.05, for a total transaction of $117,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,596 shares of company stock worth $1,382,405 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

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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.

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

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