First Citizens Bank & Trust Co. Increases Stock Position in Universal Forest Products, Inc. (NASDAQ:UFPI)

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First Citizens Bank & Trust Co. boosted its stake in Universal Forest Products, Inc. (NASDAQ:UFPI) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,265 shares of the construction company’s stock after acquiring an additional 447 shares during the period. First Citizens Bank & Trust Co.’s holdings in Universal Forest Products were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bridge City Capital LLC increased its stake in Universal Forest Products by 0.5% in the second quarter. Bridge City Capital LLC now owns 64,131 shares of the construction company’s stock valued at $2,441,000 after purchasing an additional 316 shares during the period. Jennison Associates LLC increased its stake in shares of Universal Forest Products by 0.9% during the second quarter. Jennison Associates LLC now owns 35,286 shares of the construction company’s stock worth $1,343,000 after acquiring an additional 332 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Universal Forest Products by 1.8% during the second quarter. State of Alaska Department of Revenue now owns 20,885 shares of the construction company’s stock worth $794,000 after acquiring an additional 361 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Universal Forest Products by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 24,278 shares of the construction company’s stock worth $924,000 after acquiring an additional 400 shares during the period. Finally, BancorpSouth Bank increased its stake in shares of Universal Forest Products by 2.5% during the second quarter. BancorpSouth Bank now owns 19,482 shares of the construction company’s stock worth $741,000 after acquiring an additional 483 shares during the period. 80.57% of the stock is owned by hedge funds and other institutional investors.

In other Universal Forest Products news, VP Michael F. Mordell sold 9,354 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $24.74, for a total value of $231,417.96. Following the sale, the vice president now owns 5,405 shares of the company’s stock, valued at $133,719.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Coleman sold 20,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $40.13, for a total transaction of $802,600.00. Following the completion of the sale, the executive vice president now directly owns 1,200 shares in the company, valued at approximately $48,156. The disclosure for this sale can be found here. Insiders have sold 45,935 shares of company stock worth $1,730,059 over the last 90 days. 3.77% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on UFPI shares. ValuEngine lowered shares of Universal Forest Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. BidaskClub upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th.

Shares of Universal Forest Products stock opened at $41.35 on Monday. Universal Forest Products, Inc. has a 52-week low of $24.14 and a 52-week high of $42.80. The company has a quick ratio of 1.50, a current ratio of 2.89 and a debt-to-equity ratio of 0.21. The company’s 50-day simple moving average is $39.64 and its 200-day simple moving average is $37.04. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.92 and a beta of 1.87.

Universal Forest Products (NASDAQ:UFPI) last issued its earnings results on Wednesday, July 24th. The construction company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. Universal Forest Products had a net margin of 3.63% and a return on equity of 14.42%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Universal Forest Products, Inc. will post 2.86 EPS for the current year.

Universal Forest Products Profile

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 and wood composite decking and related accessories, 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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Institutional Ownership by Quarter for Universal Forest Products (NASDAQ:UFPI)

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