Universal Forest Products Inc. (NASDAQ:UFPI) shares saw strong trading volume on Wednesday following a stronger than expected earnings report. 187,076 shares changed hands during trading, an increase of 56% from the previous session’s volume of 120,097 shares.The stock last traded at $92.11 and had previously closed at $95.95.

The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.35 by $0.01. The business had revenue of $826.70 million for the quarter, compared to analyst estimates of $856.33 million. Universal Forest Products had a net margin of 3.27% and a return on equity of 12.38%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share.

Several analysts have commented on the stock. Zacks Investment Research lowered shares of Universal Forest Products from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 21st. DA Davidson upgraded shares of Universal Forest Products from an “underperform” rating to a “neutral” rating in a research note on Friday, July 22nd.

In related news, CEO Matthew J. Missad sold 400 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $102.75, for a total transaction of $41,100.00. Following the completion of the transaction, the chief executive officer now owns 55,559 shares of the company’s stock, valued at $5,708,687.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Charles Scott Greene sold 4,639 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $109.99, for a total transaction of $510,243.61. Following the transaction, the vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $1,022,687.02. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. Bayesian Capital Management LP purchased a new position in shares of Universal Forest Products during the first quarter valued at approximately $220,000. Invictus RG purchased a new position in shares of Universal Forest Products during the first quarter valued at approximately $250,000. Hancock Holding Co. purchased a new position in shares of Universal Forest Products during the first quarter valued at approximately $954,000. Geode Capital Management LLC boosted its position in shares of Universal Forest Products by 6.5% in the first quarter. Geode Capital Management LLC now owns 152,819 shares of the company’s stock valued at $13,114,000 after buying an additional 9,346 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Universal Forest Products by 12.8% in the first quarter. Goldman Sachs Group Inc. now owns 70,460 shares of the company’s stock valued at $6,047,000 after buying an additional 8,000 shares in the last quarter. 83.62% of the stock is owned by institutional investors.

The stock has a market capitalization of $1.86 billion, a P/E ratio of 19.19 and a beta of 1.54. The company’s 50-day moving average is $101.57 and its 200 day moving average is $94.69.

About Universal Forest Products

Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets: retail, construction and industrial. Its industrial market serves as industrial manufacturers and other customers for packaging, material handling and other applications.

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