Westwood Holdings Group Inc. Increases Position in Universal Forest Products, Inc. (NASDAQ:UFPI)

Westwood Holdings Group Inc. lifted its position in Universal Forest Products, Inc. (NASDAQ:UFPI) by 14.6% in the first quarter, HoldingsChannel.com reports. The firm owned 1,067,593 shares of the construction company’s stock after buying an additional 136,112 shares during the period. Westwood Holdings Group Inc.’s holdings in Universal Forest Products were worth $31,910,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UFPI. Dimensional Fund Advisors LP increased its position in shares of Universal Forest Products by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,745,377 shares of the construction company’s stock worth $123,190,000 after purchasing an additional 285,891 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Universal Forest Products by 1.2% in the 1st quarter. Victory Capital Management Inc. now owns 2,266,284 shares of the construction company’s stock valued at $67,739,000 after acquiring an additional 26,007 shares during the period. Northern Trust Corp increased its position in shares of Universal Forest Products by 3.2% in the 1st quarter. Northern Trust Corp now owns 1,081,649 shares of the construction company’s stock valued at $32,331,000 after acquiring an additional 33,069 shares during the period. Norges Bank acquired a new position in shares of Universal Forest Products in the 4th quarter valued at $24,130,000. Finally, Bank of New York Mellon Corp increased its position in shares of Universal Forest Products by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 873,905 shares of the construction company’s stock valued at $22,687,000 after acquiring an additional 63,913 shares during the period. Hedge funds and other institutional investors own 79.87% of the company’s stock.

Several equities analysts recently issued reports on UFPI shares. BidaskClub downgraded Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Zacks Investment Research lowered shares of Universal Forest Products from a “hold” rating to a “sell” rating in a report on Tuesday, February 26th. Finally, ValuEngine raised shares of Universal Forest Products from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th.

In other news, insider Allen T. Peters sold 8,131 shares of Universal Forest Products stock in a transaction on Friday, March 15th. The shares were sold at an average price of $30.25, for a total transaction of $245,962.75. Following the completion of the sale, the insider now directly owns 116,763 shares of the company’s stock, valued at approximately $3,532,080.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Missad sold 12,000 shares of Universal Forest Products stock in a transaction on Monday, June 10th. The stock was sold at an average price of $35.75, for a total transaction of $429,000.00. Following the sale, the chief executive officer now directly owns 246,381 shares of the company’s stock, valued at $8,808,120.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,511 shares of company stock valued at $2,770,068. Corporate insiders own 3.77% of the company’s stock.

Shares of NASDAQ UFPI traded up $0.54 during midday trading on Wednesday, reaching $36.64. 4,140 shares of the stock were exchanged, compared to its average volume of 254,790. The company has a market capitalization of $2.19 billion, a P/E ratio of 15.63, a P/E/G ratio of 2.56 and a beta of 1.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 1.63. Universal Forest Products, Inc. has a twelve month low of $24.14 and a twelve month high of $39.39.

Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.08. Universal Forest Products had a net margin of 3.35% and a return on equity of 13.90%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $0.53 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Universal Forest Products, Inc. will post 2.79 EPS for the current year.

The firm also recently declared a semiannual dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a $0.20 dividend. This represents a yield of 1.02%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from Universal Forest Products’s previous semiannual dividend of $0.18. Universal Forest Products’s dividend payout ratio (DPR) is currently 17.17%.

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Universal Forest Products Profile

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.

Further Reading: Why is insider trading harmful?

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

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