JPMorgan Chase & Co. lowered its holdings in Universal Forest Products, Inc. (NASDAQ:UFPI) by 14.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 261,304 shares of the construction company’s stock after selling 43,053 shares during the period. JPMorgan Chase & Co. owned about 1.28% of Universal Forest Products worth $25,114,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Riverhead Capital Management LLC boosted its position in Universal Forest Products by 77.6% in the second quarter. Riverhead Capital Management LLC now owns 1,598 shares of the construction company’s stock worth $140,000 after purchasing an additional 698 shares during the last quarter. Flinton Capital Management LLC boosted its position in Universal Forest Products by 68.6% in the second quarter. Flinton Capital Management LLC now owns 1,652 shares of the construction company’s stock worth $144,000 after purchasing an additional 672 shares during the last quarter. Optimum Investment Advisors purchased a new position in Universal Forest Products in the second quarter worth $210,000. Amalgamated Bank boosted its position in Universal Forest Products by 5.0% in the second quarter. Amalgamated Bank now owns 2,768 shares of the construction company’s stock worth $242,000 after purchasing an additional 133 shares during the last quarter. Finally, Renaissance Group LLC boosted its position in Universal Forest Products by 0.8% in the second quarter. Renaissance Group LLC now owns 3,386 shares of the construction company’s stock worth $296,000 after purchasing an additional 28 shares during the last quarter. 26.71% of the stock is currently owned by institutional investors and hedge funds.

Universal Forest Products, Inc. (NASDAQ:UFPI) opened at $36.70 on Friday. Universal Forest Products, Inc. has a 1 year low of $25.93 and a 1 year high of $39.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 2.62. The company has a market capitalization of $2,291.58, a price-to-earnings ratio of 21.08, a PEG ratio of 2.00 and a beta of 1.83.

Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, October 17th. The construction company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Universal Forest Products had a return on equity of 12.05% and a net margin of 2.85%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $984.99 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. sell-side analysts forecast that Universal Forest Products, Inc. will post 1.87 earnings per share for the current fiscal year.

The company also recently declared 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%. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.15. Universal Forest Products’s dividend payout ratio is currently 19.14%.

In related news, CFO Michael R. Cole sold 500 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $110.00, for a total transaction of $55,000.00. Following the sale, the chief financial officer now directly owns 27,789 shares in the company, valued at approximately $3,056,790. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Charles Scott Greene sold 3,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $38.05, for a total value of $114,150.00. Following the sale, the vice president now owns 9,894 shares in the company, valued at $376,466.70. The disclosure for this sale can be found here. Insiders have sold a total of 15,600 shares of company stock worth $1,293,831 in the last ninety days. Insiders own 3.40% of the company’s stock.

Several research analysts have weighed in on UFPI shares. BMO Capital Markets started coverage on Universal Forest Products in a research report on Tuesday, October 17th. They issued a “market perform” rating and a $36.67 price objective on the stock. BidaskClub cut Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research raised Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $39.17.

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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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