Comerica Bank Acquires 41,636 Shares of Universal Forest Products, Inc. (UFPI)

Comerica Bank raised its holdings in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 192.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,306 shares of the construction company’s stock after purchasing an additional 41,636 shares during the quarter. Comerica Bank owned approximately 0.10% of Universal Forest Products worth $2,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UFPI. New York State Common Retirement Fund lifted its holdings in Universal Forest Products by 2.9% during the second quarter. New York State Common Retirement Fund now owns 21,300 shares of the construction company’s stock valued at $1,860,000 after purchasing an additional 599 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Universal Forest Products by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 15,440 shares of the construction company’s stock worth $1,348,000 after buying an additional 221 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Universal Forest Products by 1.5% in the third quarter. Fisher Asset Management LLC now owns 220,199 shares of the construction company’s stock worth $21,615,000 after buying an additional 3,211 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Universal Forest Products by 14.1% in the third quarter. First Trust Advisors LP now owns 23,547 shares of the construction company’s stock worth $2,311,000 after buying an additional 2,905 shares in the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of Universal Forest Products by 11.9% in the third quarter. Aperio Group LLC now owns 7,284 shares of the construction company’s stock worth $715,000 after buying an additional 777 shares in the last quarter. 58.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of Universal Forest Products, Inc. (NASDAQ:UFPI) opened at $36.49 on Friday. Universal Forest Products, Inc. has a fifty-two week low of $25.93 and a fifty-two week high of $39.58. The stock has a market cap of $2,218.79, a PE ratio of 20.54 and a beta of 1.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.40.

A number of equities research analysts have recently issued reports on UFPI shares. BidaskClub downgraded shares of Universal Forest Products from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Universal Forest Products from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Universal Forest Products currently has an average rating of “Hold” and a consensus price target of $39.17.

In related news, VP Charles Scott Greene sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $38.05, for a total value of $114,150.00. Following the transaction, the vice president now directly owns 9,894 shares in the company, valued at $376,466.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Missad sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.19, for a total transaction of $743,800.00. Following the completion of the transaction, the chief executive officer now owns 201,732 shares in the company, valued at $7,502,413.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,299 shares of company stock worth $1,097,163. Insiders own 3.40% of the company’s stock.

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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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