Universal Forest Products, Inc. (UFPI) Holding Lowered by ProShare Advisors LLC

Universal Forest Products, Inc. (UFPI) Holding Lowered by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 24.3% during the first quarter, Holdings Channel reports. The institutional investor owned 2,755 shares of the construction company’s stock after selling 882 shares during the period. ProShare Advisors LLC’s holdings in Universal Forest Products were worth $271,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UFPI. Flinton Capital Management LLC bought a new position in Universal Forest Products during the fourth quarter valued at $109,000. State of Alaska Department of Revenue boosted its position in Universal Forest Products by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 2,250 shares of the construction company’s stock valued at $221,000 after buying an additional 50 shares in the last quarter. Tudor Investment Corp Et Al boosted its position in Universal Forest Products by 41.7% in the fourth quarter. Tudor Investment Corp Et Al now owns 3,400 shares of the construction company’s stock valued at $347,000 after buying an additional 1,000 shares in the last quarter. Wexford Capital LP bought a new position in Universal Forest Products during the fourth quarter valued at $381,000. Finally, Capstone Investment Advisors LLC bought a new position in Universal Forest Products during the fourth quarter valued at $418,000. 81.12% of the stock is currently owned by hedge funds and other institutional investors.

Universal Forest Products, Inc. (NASDAQ UFPI) opened at 89.88 on Friday. The stock’s 50 day moving average is $92.18 and its 200 day moving average is $98.53. Universal Forest Products, Inc. has a one year low of $82.35 and a one year high of $110.97. The company has a market capitalization of $1.84 billion, a PE ratio of 17.84 and a beta of 1.70.

Universal Forest Products (NASDAQ:UFPI) last released its earnings results on Tuesday, April 18th. The construction company reported $1.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.03. The firm had revenue of $846.10 million for the quarter, compared to analysts’ expectations of $812.57 million. Universal Forest Products had a net margin of 3.27% and a return on equity of 12.31%. The company’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. On average, analysts anticipate that Universal Forest Products, Inc. will post $5.87 earnings per share for the current fiscal year.

The business also recently announced a semiannual dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.45 dividend. This represents a yield of 0.94%. The ex-dividend date is Tuesday, May 30th. Universal Forest Products’s payout ratio is 18.44%.

Several research firms have weighed in on UFPI. ValuEngine cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a report on Friday.

In other news, VP Charles Scott Greene sold 2,475 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $99.49, for a total value of $246,237.75. Following the sale, the vice president now owns 5,298 shares of the company’s stock, valued at $527,098.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.50% of the stock is owned by insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:UFPI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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