Convergence Investment Partners LLC Takes Position in Universal Forest Products, Inc. (NASDAQ:UFPI)

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.

Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. Universal Forest Products had a net margin of 3.63% and a return on equity of 14.42%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm earned $0.66 EPS. Universal Forest Products’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, equities analysts anticipate that Universal Forest Products, Inc. will post 2.86 EPS for the current year.

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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Institutional Ownership by Quarter for Universal Forest Products (NASDAQ:UFPI)

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