Inside Recent Moves at Universal Forest Products Inc.

Business card made of wood. Image credit, UFPI.

Universal Forest Products Inc. (NASDAQ:UFPI) has seen investors make moves in the company, led by Shinko Asset Management Co. Ltd. reducing its stake in the company by 30.6 percent during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings:

  • Fuller & Thaler Asset Management Inc. acquired a new position in the company during the second quarter worth $130,000.
  • BlackRock Japan Co. Ltd increased its stake by 59.5 percent in the second quarter.
  • HSBC Holdings PLC acquired a new position in the company in the second quarter worth $205,000.
  • PineBridge Investments L.P. increased its stake by 4.6 percent in the second quarter.
Credit: Cerbat Gem.

The Daily Business News recently covered UFPI’s Q3 earnings call, where the company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ estimates of $1.35.

Matthew Missad. Credit: UFPI.

The employees of Universal are working hard to top the records they achieved during the last half of 2015, and we are pleased once again to report record results and growth,” said CEO Matthew J. Missad.

We grew sales significantly in two key markets and continue to increase our sales of new products.

According to the Cerbat Gem, UFPI also announced a semi-annual dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, November 29th.

Company insiders were also active, with UFPI Vice President Patrick M. Benton sold 1,368 shares of the firm’s stock in a transaction dated Monday, November 28th at an average price of $102.56, for a total value of $140,302.08.

Vice President Michael F. Mordell sold 1,700 shares of the firm’s stock in a transaction dated Tuesday, December 13th at an average price of $107.32, for a total value of $182,444.00.

UFPI is one of the various industry-connected stocks monitored each business day on the industry’s only daily market report, featured exclusively on the Daily Business News.  For today’s closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Image credits are as shown above.)

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

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