ZPR Investment Management Takes $1.88 Million Position in Universal Forest Products, Inc. (UFPI)

ZPR Investment Management acquired a new stake in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,520 shares of the construction company’s stock, valued at approximately $1,879,000. Universal Forest Products comprises 2.9% of ZPR Investment Management’s holdings, making the stock its 11th largest holding. ZPR Investment Management owned 0.11% of Universal Forest Products as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in UFPI. Bank of New York Mellon Corp increased its position in Universal Forest Products by 17.6% in the second quarter. Bank of New York Mellon Corp now owns 434,215 shares of the construction company’s stock worth $37,911,000 after purchasing an additional 64,958 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in Universal Forest Products by 9.9% in the second quarter. Virginia Retirement Systems ET AL now owns 25,500 shares of the construction company’s stock worth $2,226,000 after purchasing an additional 2,300 shares during the last quarter. Alpha Windward LLC increased its position in Universal Forest Products by 7.8% in the second quarter. Alpha Windward LLC now owns 4,980 shares of the construction company’s stock worth $435,000 after purchasing an additional 360 shares during the last quarter. Victory Capital Management Inc. increased its position in Universal Forest Products by 141.5% in the second quarter. Victory Capital Management Inc. now owns 168,879 shares of the construction company’s stock worth $14,745,000 after purchasing an additional 98,948 shares during the last quarter. Finally, Credit Suisse AG increased its position in Universal Forest Products by 39.5% in the first quarter. Credit Suisse AG now owns 46,760 shares of the construction company’s stock worth $4,607,000 after purchasing an additional 13,236 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

In other Universal Forest Products news, insider Patrick M. Webster sold 996 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $88.93, for a total transaction of $88,574.28. Following the transaction, the insider now owns 58,919 shares of the company’s stock, valued at approximately $5,239,666.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction, the insider now directly owns 59,915 shares in the company, valued at approximately $5,320,452. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Shares of Universal Forest Products, Inc. (UFPI) traded up 7.20% during trading on Wednesday, reaching $104.52. 209,255 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $93.32 and a 200 day moving average price of $89.86. The company has a market capitalization of $2.13 billion, a P/E ratio of 20.73 and a beta of 1.84. Universal Forest Products, Inc. has a 12-month low of $77.80 and a 12-month high of $108.79.

Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, October 17th. The construction company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.08. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $984.99 million. Universal Forest Products had a return on equity of 11.73% and a net margin of 2.86%. Universal Forest Products’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 earnings per share. Equities analysts expect that Universal Forest Products, Inc. will post $5.49 EPS for the current fiscal year.

Several research analysts have commented on the stock. BidaskClub lowered shares of Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Sidoti assumed coverage on shares of Universal Forest Products in a research note on Tuesday, July 25th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, BMO Capital Markets initiated coverage on shares of Universal Forest Products in a research note on Tuesday. They set a “market perform” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $110.00.

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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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