California State Teachers Retirement System Sells 3,386 Shares of Universal Forest Products, Inc. (UFPI)

California State Teachers Retirement System lowered its stake in Universal Forest Products, Inc. (NASDAQ:UFPI) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,024 shares of the construction company’s stock after selling 3,386 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Universal Forest Products worth $3,143,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Universal Forest Products in the second quarter valued at about $387,000. Advisor Group Inc. grew its holdings in Universal Forest Products by 89.6% during the third quarter. Advisor Group Inc. now owns 5,710 shares of the construction company’s stock worth $560,000 after purchasing an additional 2,699 shares during the period. Eqis Capital Management Inc. bought a new position in Universal Forest Products during the third quarter worth about $350,000. Crossmark Global Holdings Inc. bought a new position in Universal Forest Products during the third quarter worth about $424,000. Finally, Wells Fargo & Company MN grew its holdings in Universal Forest Products by 54.2% during the second quarter. Wells Fargo & Company MN now owns 95,182 shares of the construction company’s stock worth $8,309,000 after purchasing an additional 33,436 shares during the period. 26.69% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Michael R. Cole sold 500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 27,789 shares in the company, valued at $3,056,790. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Robert D. Coleman sold 4,100 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $111.41, for a total value of $456,781.00. Following the sale, the executive vice president now owns 1,680 shares of the company’s stock, valued at approximately $187,168.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,899 shares of company stock valued at $2,159,694. Corporate insiders own 3.40% of the company’s stock.

UFPI has been the subject of a number of research analyst reports. BidaskClub cut Universal Forest Products from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $41.67 price target for the company in a report on Monday, October 23rd. Finally, BMO Capital Markets initiated coverage on Universal Forest Products in a report on Tuesday, October 17th. They set a “market perform” rating and a $36.67 price target for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $39.17.

Universal Forest Products, Inc. (UFPI) opened at $37.18 on Thursday. Universal Forest Products, Inc. has a 1-year low of $25.93 and a 1-year high of $39.58. 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 $2,280.00, a PE ratio of 20.89, a P/E/G ratio of 1.75 and a beta of 1.85.

Universal Forest Products (NASDAQ:UFPI) last posted its quarterly earnings results on Tuesday, October 17th. The construction company reported $0.55 EPS for the quarter, topping 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 business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $984.99 million. During the same quarter last year, the company posted $0.45 earnings per share. Universal Forest Products’s quarterly revenue was up 27.8% on a year-over-year basis. analysts forecast that Universal Forest Products, Inc. will post 1.87 EPS for the current fiscal year.

The company also recently disclosed a semiannual dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a dividend of $0.17 per share. This represents a dividend yield of 0.31%. The ex-dividend date was Thursday, November 30th. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.15. Universal Forest Products’s payout ratio is currently 19.10%.

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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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