Wells Fargo & Company MN raised its position in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 54.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,182 shares of the construction company’s stock after purchasing an additional 33,436 shares during the period. Wells Fargo & Company MN owned about 0.46% of Universal Forest Products worth $8,309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UFPI. BlackRock Inc. raised its position in Universal Forest Products by 24,097.2% during the 1st quarter. BlackRock Inc. now owns 3,185,077 shares of the construction company’s stock valued at $313,858,000 after purchasing an additional 3,171,914 shares in the last quarter. Victory Capital Management Inc. raised its position in Universal Forest Products by 141.5% during the 2nd quarter. Victory Capital Management Inc. now owns 168,879 shares of the construction company’s stock valued at $14,745,000 after purchasing an additional 98,948 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 acquiring an additional 64,958 shares in the last quarter. Bank of America Corp DE raised its position in shares of Universal Forest Products by 45.3% in the 1st quarter. Bank of America Corp DE now owns 207,854 shares of the construction company’s stock worth $20,482,000 after acquiring an additional 64,783 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of 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 acquiring an additional 53,700 shares in the last quarter. 80.27% of the stock is owned by institutional investors and hedge funds.

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Several research firms have recently commented on UFPI. BidaskClub lowered Universal Forest Products from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research raised Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, Sidoti began coverage on Universal Forest Products in a research report on Tuesday, July 25th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Universal Forest Products presently has an average rating of “Hold” and a consensus price target of $110.00.

Universal Forest Products, Inc. (NASDAQ:UFPI) opened at 101.46 on Friday. Universal Forest Products, Inc. has a 52-week low of $77.80 and a 52-week high of $108.79. The stock has a 50 day moving average price of $90.16 and a 200 day moving average price of $89.84. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 20.13 and a beta of 1.84.

Universal Forest Products (NASDAQ:UFPI) last released its earnings results on Tuesday, July 18th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.85 by ($0.21). Universal Forest Products had a net margin of 2.86% and a return on equity of 11.73%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $1.64 earnings per share. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities analysts expect that Universal Forest Products, Inc. will post $5.60 earnings per share for the current year.

In related news, insider Patrick M. Webster sold 996 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $88.93, for a total value of $88,574.28. Following the transaction, the insider now owns 58,919 shares in the company, valued at approximately $5,239,666.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick M. Webster sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $88.80, for a total value of $133,200.00. Following the completion of the transaction, the insider now owns 59,915 shares in the company, valued at approximately $5,320,452. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Universal Forest Products Company Profile

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.

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

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