Universal Forest Products, Inc. (UFPI) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its stake in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 37.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,675 shares of the construction company’s stock after selling 17,850 shares during the period. Alliancebernstein L.P. owned 0.14% of Universal Forest Products worth $2,591,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of Universal Forest Products by 55.5% during the 1st quarter. SG Americas Securities LLC now owns 1,539 shares of the construction company’s stock worth $152,000 after purchasing an additional 549 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Universal Forest Products during the 1st quarter worth approximately $169,000. Clinton Group Inc. purchased a new stake in shares of Universal Forest Products during the 1st quarter worth approximately $247,000. Oxford Asset Management purchased a new stake in shares of Universal Forest Products during the 1st quarter worth approximately $283,000. Finally, Trellus Management Company LLC purchased a new stake in shares of Universal Forest Products during the 2nd quarter worth approximately $293,000. 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 shares were sold at an average price of $88.93, for a total value of $88,574.28. Following the transaction, the insider now directly owns 58,919 shares in the company, valued at $5,239,666.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $133,200.00. Following the completion of the transaction, the insider now owns 59,915 shares in the company, valued at $5,320,452. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports 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. Zacks Investment Research upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $110.00.

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Shares of Universal Forest Products, Inc. (UFPI) opened at 100.15 on Friday. The stock’s 50 day moving average is $92.43 and its 200 day moving average is $89.94. Universal Forest Products, Inc. has a 52 week low of $77.80 and a 52 week high of $108.79. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 19.87 and a beta of 1.84.

Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, July 18th. The construction company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.21). Universal Forest Products had a return on equity of 11.73% and a net margin of 2.86%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis. On average, equities analysts forecast that Universal Forest Products, Inc. will post $5.60 EPS for the current year.

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.

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

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