Profund Advisors LLC trimmed its position in Universal Forest Products, Inc. (NASDAQ:UFPI) by 9.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,075 shares of the construction company’s stock after selling 305 shares during the period. Profund Advisors LLC’s holdings in Universal Forest Products were worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in Universal Forest Products by 17.6% in the second 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 during the period. Virginia Retirement Systems ET AL lifted its position in Universal Forest Products by 9.9% in the second quarter. Virginia Retirement Systems ET AL now owns 25,500 shares of the construction company’s stock worth $2,226,000 after purchasing an additional 2,300 shares during the period. Alpha Windward LLC lifted its position in Universal Forest Products by 7.8% in the second quarter. Alpha Windward LLC now owns 4,980 shares of the construction company’s stock worth $435,000 after purchasing an additional 360 shares during the period. Victory Capital Management Inc. lifted its position in Universal Forest Products by 141.5% in the second quarter. Victory Capital Management Inc. now owns 168,879 shares of the construction company’s stock worth $14,745,000 after purchasing an additional 98,948 shares during the period. Finally, Credit Suisse AG lifted its position in Universal Forest Products by 39.5% in the first quarter. Credit Suisse AG now owns 46,760 shares of the construction company’s stock worth $4,607,000 after purchasing an additional 13,236 shares during the period. Hedge funds and other institutional investors own 80.28% of the company’s stock.

A number of research firms have weighed in on UFPI. BidaskClub upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Sidoti began coverage on Universal Forest Products in a research report on Tuesday, July 25th. They issued a “buy” rating for the company. Finally, Zacks Investment Research upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $110.00.

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In other Universal Forest Products news, insider Patrick M. Webster sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $88.80, for a total value of $133,200.00. Following the transaction, the insider now directly owns 59,915 shares of the company’s stock, valued at $5,320,452. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Patrick M. Webster sold 996 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $88.93, for a total transaction of $88,574.28. Following the completion of the transaction, the insider now directly owns 58,919 shares in the company, valued at $5,239,666.67. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Shares of Universal Forest Products, Inc. (UFPI) opened at 99.17 on Wednesday. The firm has a market capitalization of $2.03 billion, a P/E ratio of 19.67 and a beta of 1.84. The firm has a 50-day moving average price of $91.33 and a 200-day moving average price of $89.80. Universal Forest Products, Inc. has a 52-week low of $77.80 and a 52-week high of $108.79.

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

Universal Forest Products 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.

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

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