Convergence Investment Partners LLC purchased a new stake in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) during the 3rd quarter, Holdings Channel reports. The fund purchased 27,769 shares of the construction company’s stock, valued at approximately $1,107,000.
A number of other large investors have also bought and sold shares of the stock. Capital Investment Advisory Services LLC acquired a new stake in shares of Universal Forest Products during the third quarter worth approximately $29,000. Point72 Asset Management L.P. purchased a new position in shares of Universal Forest Products during the 2nd quarter valued at $38,000. Advisory Services Network LLC grew its holdings in shares of Universal Forest Products by 1,147.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,060 shares of the construction company’s stock valued at $40,000 after acquiring an additional 975 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Universal Forest Products by 31.8% in the third quarter. Versant Capital Management Inc now owns 1,037 shares of the construction company’s stock worth $41,000 after acquiring an additional 250 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in shares of Universal Forest Products in the second quarter worth $41,000. 80.57% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ UFPI opened at $47.03 on Thursday. 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 stock has a market capitalization of $2.61 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.87. Universal Forest Products, Inc. has a 12-month low of $24.14 and a 12-month high of $42.80. The company has a 50 day moving average price of $39.91 and a two-hundred day moving average price of $37.34.
In other Universal Forest Products news, insider David A. Tutas sold 750 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $40.45, for a total transaction of $30,337.50. Following the transaction, the insider now directly owns 1,107 shares in the company, valued at $44,778.15. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert D. Coleman sold 10,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $42.50, for a total value of $425,000.00. Following the completion of the sale, the executive vice president now directly owns 1,200 shares of the company’s stock, valued at approximately $51,000. The disclosure for this sale can be found here. Insiders sold 45,935 shares of company stock valued at $1,730,059 over the last quarter. 3.77% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. ValuEngine downgraded Universal Forest Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. BidaskClub raised Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th.
About Universal Forest Products
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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