Universal Forest Products, Inc. (NASDAQ:UFPI) – DA Davidson lowered their FY2018 earnings per share estimates for Universal Forest Products in a research report issued on Wednesday, October 17th. DA Davidson analyst S. Chercover now forecasts that the construction company will post earnings per share of $2.36 for the year, down from their prior estimate of $2.48. DA Davidson also issued estimates for Universal Forest Products’ Q4 2018 earnings at $0.55 EPS, Q1 2019 earnings at $0.51 EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.83 EPS, Q4 2019 earnings at $0.62 EPS and FY2019 earnings at $2.87 EPS.

A number of other research firms have also recently issued reports on UFPI. BidaskClub raised Universal Forest Products from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. ValuEngine cut Universal Forest Products from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research cut Universal Forest Products from a “hold” rating to a “sell” rating in a report on Saturday, June 30th. Finally, Seaport Global Securities assumed coverage on Universal Forest Products in a report on Friday, August 3rd. They issued a “buy” rating and a $47.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Universal Forest Products currently has an average rating of “Hold” and a consensus target price of $41.33.

Shares of NASDAQ:UFPI opened at $28.92 on Friday. Universal Forest Products has a 52 week low of $28.67 and a 52 week high of $39.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.57 and a current ratio of 2.92. The firm has a market capitalization of $1.93 billion, a PE ratio of 16.46, a PEG ratio of 2.53 and a beta of 1.84.

Universal Forest Products (NASDAQ:UFPI) last issued its earnings results on Tuesday, October 16th. The construction company reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.07). Universal Forest Products had a net margin of 3.34% and a return on equity of 13.35%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Saturday, December 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.49%. Universal Forest Products’s dividend payout ratio is 19.57%.

In related news, EVP Robert D. Coleman sold 10,000 shares of Universal Forest Products stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $37.90, for a total value of $379,000.00. Following the completion of the transaction, the executive vice president now directly owns 5,040 shares of the company’s stock, valued at $191,016. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert D. Coleman sold 5,000 shares of Universal Forest Products stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $37.54, for a total value of $187,700.00. Following the completion of the transaction, the executive vice president now directly owns 5,040 shares of the company’s stock, valued at $189,201.60. The disclosure for this sale can be found here. Insiders sold 21,243 shares of company stock valued at $798,940 over the last ninety days. 3.40% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in UFPI. BlackRock Inc. raised its holdings in Universal Forest Products by 9.8% during the 2nd quarter. BlackRock Inc. now owns 10,577,523 shares of the construction company’s stock worth $387,350,000 after purchasing an additional 940,237 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Universal Forest Products by 191.7% during the 2nd quarter. Victory Capital Management Inc. now owns 958,897 shares of the construction company’s stock worth $35,115,000 after purchasing an additional 630,203 shares during the last quarter. SG Capital Management LLC bought a new stake in Universal Forest Products during the 2nd quarter worth about $10,849,000. PNC Financial Services Group Inc. raised its holdings in Universal Forest Products by 26.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 922,417 shares of the construction company’s stock worth $33,780,000 after purchasing an additional 194,852 shares during the last quarter. Finally, LSV Asset Management bought a new stake in Universal Forest Products during the 2nd quarter worth about $5,210,000. 79.64% of the stock is owned by hedge funds and other institutional investors.

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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