Riverhead Capital Management LLC raised its position in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) by 77.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,598 shares of the construction company’s stock after acquiring an additional 698 shares during the period. Riverhead Capital Management LLC’s holdings in Universal Forest Products were worth $140,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in Universal Forest Products by 24,097.2% during the first quarter. BlackRock Inc. now owns 3,185,077 shares of the construction company’s stock worth $313,858,000 after acquiring an additional 3,171,914 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Universal Forest Products by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,772,923 shares of the construction company’s stock valued at $174,704,000 after purchasing an additional 18,197 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Universal Forest Products by 10.8% in the 2nd quarter. Franklin Resources Inc. now owns 549,212 shares of the construction company’s stock valued at $47,952,000 after purchasing an additional 53,700 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Universal Forest Products by 17.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 434,215 shares of the construction company’s stock valued at $37,911,000 after purchasing an additional 64,958 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in shares of Universal Forest Products by 15.4% in the 2nd quarter. Pictet Asset Management Ltd. now owns 238,368 shares of the construction company’s stock valued at $20,960,000 after purchasing an additional 31,860 shares in the last quarter. Institutional investors own 80.27% of the company’s stock.

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Universal Forest Products, Inc. (UFPI) opened at 101.62 on Wednesday. The stock has a 50 day moving average of $88.31 and a 200-day moving average of $89.66. 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 $2.08 billion, a P/E ratio of 20.16 and a beta of 1.84.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 18th. The construction company reported $1.64 earnings per share (EPS) 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 firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. Universal Forest Products’s revenue was up 23.0% on a year-over-year basis. Analysts forecast that Universal Forest Products, Inc. will post $5.60 earnings per share for the current year.

A number of analysts have recently issued reports on the company. BidaskClub upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Sidoti initiated coverage on shares of Universal Forest Products in a research report on Tuesday, July 25th. They set a “buy” rating for the company. Finally, Zacks Investment Research lowered shares of Universal Forest Products from a “buy” rating to a “hold” rating in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $105.50.

In other Universal Forest Products news, insider Patrick M. Webster sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $88.80, for a total value of $133,200.00. Following the transaction, the insider now directly owns 59,915 shares of the company’s stock, valued at approximately $5,320,452. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Patrick M. Webster sold 996 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $88.93, for a total value of $88,574.28. Following the sale, the insider now directly owns 58,919 shares of the company’s stock, valued at $5,239,666.67. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

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, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.

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

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