Everence Capital Management Inc. Invests $238,000 in Universal Forest Products, Inc. (UFPI) Stock

Everence Capital Management Inc. bought a new stake in Universal Forest Products, Inc. (NASDAQ:UFPI) during the 1st quarter, HoldingsChannel reports. The fund bought 7,950 shares of the construction company’s stock, valued at approximately $238,000.

Other large investors also recently added to or reduced their stakes in the company. Menta Capital LLC acquired a new position in Universal Forest Products in the fourth quarter valued at about $602,000. Renaissance Technologies LLC lifted its stake in Universal Forest Products by 61.3% in the third quarter. Renaissance Technologies LLC now owns 83,909 shares of the construction company’s stock valued at $2,965,000 after buying an additional 31,900 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its stake in Universal Forest Products by 4.9% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 326,621 shares of the construction company’s stock valued at $8,479,000 after buying an additional 15,351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Universal Forest Products by 18.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,790 shares of the construction company’s stock valued at $124,000 after buying an additional 759 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Universal Forest Products by 2.0% during the third quarter. Vanguard Group Inc. now owns 5,944,007 shares of the construction company’s stock worth $210,001,000 after purchasing an additional 113,713 shares during the period. 81.29% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Patrick M. Webster sold 2,809 shares of Universal Forest Products stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $36.22, for a total value of $101,741.98. Following the sale, the insider now owns 232,968 shares of the company’s stock, valued at approximately $8,438,100.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert D. Coleman sold 10,000 shares of Universal Forest Products stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $35.34, for a total value of $353,400.00. Following the completion of the sale, the executive vice president now directly owns 1,200 shares in the company, valued at approximately $42,408. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,511 shares of company stock worth $2,341,068. 3.77% of the stock is currently owned by insiders.

UFPI has been the topic of a number of research analyst reports. ValuEngine raised Universal Forest Products from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 28th. BidaskClub lowered Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Zacks Investment Research lowered Universal Forest Products from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th.

NASDAQ UFPI opened at $35.14 on Monday. The stock has a market cap of $2.16 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 2.52 and a beta of 1.84. The company has a current ratio of 3.44, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. Universal Forest Products, Inc. has a one year low of $24.14 and a one year high of $39.41.

Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Universal Forest Products had a return on equity of 13.90% and a net margin of 3.35%. Universal Forest Products’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Research analysts anticipate that Universal Forest Products, Inc. will post 2.79 earnings per share for the current fiscal year.

The firm also recently declared a semiannual dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 30th. This represents a dividend yield of 1.02%. This is a positive change from Universal Forest Products’s previous semiannual dividend of $0.18. Universal Forest Products’s dividend payout ratio (DPR) is currently 15.45%.

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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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Want to see what other hedge funds are holding UFPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Forest Products, Inc. (NASDAQ:UFPI).

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

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