Victory Capital Management Inc. Has $15.69 Million Holdings in Universal Forest Products, Inc. (UFPI)

Victory Capital Management Inc. cut its position in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 5.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,822 shares of the construction company’s stock after selling 9,057 shares during the quarter. Victory Capital Management Inc. owned 0.78% of Universal Forest Products worth $15,688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of UFPI. Riverhead Capital Management LLC lifted its position in shares of 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 in the last quarter. Flinton Capital Management LLC increased its holdings 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 buying an additional 672 shares during the last quarter. Optimum Investment Advisors acquired a new position in Universal Forest Products in the second quarter worth approximately $210,000. Amalgamated Bank increased its holdings 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 buying an additional 133 shares during the last quarter. Finally, Trellus Management Company LLC acquired a new position in Universal Forest Products in the second quarter worth approximately $293,000. 77.27% of the stock is owned by institutional investors and hedge funds.

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UFPI has been the topic of a number of research reports. Sidoti initiated coverage on Universal Forest Products in a report on Tuesday, July 25th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. BMO Capital Markets initiated coverage on Universal Forest Products in a report on Tuesday, October 17th. They issued a “market perform” rating and a $110.00 price objective on the stock. Finally, BidaskClub downgraded Universal Forest Products from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $117.50.

Universal Forest Products, Inc. (UFPI) opened at $110.20 on Monday. Universal Forest Products, Inc. has a twelve month low of $77.80 and a twelve month high of $114.28. The company has a current ratio of 2.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2,247.13, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.96 and a beta of 1.84.

Universal Forest Products shares are going to split before the market opens on Wednesday, November 15th. The 3-1 split was announced on Wednesday, October 18th. The newly issued shares will be payable to shareholders after the market closes on Tuesday, November 14th.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, October 17th. The construction company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.56 by $0.08. Universal Forest Products had a return on equity of 12.05% and a net margin of 2.85%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $984.99 million. During the same quarter last year, the company posted $1.36 earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. equities research analysts forecast that Universal Forest Products, Inc. will post 5.61 EPS for the current year.

The business also recently declared a semiannual dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.17 per share. This represents a yield of 0.31%. The ex-dividend date is Thursday, November 30th. This is an increase from Universal Forest Products’s previous semiannual dividend of $0.15. Universal Forest Products’s dividend payout ratio (DPR) is 16.89%.

In other news, insider Patrick M. Webster sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $88.80, for a total value of $133,200.00. Following the completion of the sale, the insider now directly owns 59,915 shares of the company’s stock, valued at $5,320,452. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick M. Webster sold 996 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $88.93, for a total value of $88,574.28. Following the completion of the sale, the insider now directly owns 58,919 shares of the company’s stock, valued at $5,239,666.67. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,096 shares of company stock worth $1,284,305. Corporate insiders own 3.40% of the company’s stock.

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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