Covalent Partners LLC Has Decreased Its Universal Fst Prods INC (UFPI) Position as Market Valuation Declined

February 15, 2018 - By Kurt Siggers

Investors sentiment decreased to 1.09 in Q3 2017. Its down 0.17, from 1.26 in 2017Q2. It dropped, as 25 investors sold UFPI shares while 52 reduced holdings. 27 funds opened positions while 57 raised stakes. 16.27 million shares or 0.09% more from 16.25 million shares in 2017Q2 were reported. Strs Ohio, Ohio-based fund reported 100 shares. Ironwood Inv Mgmt Lc stated it has 0.52% in Universal Forest Products, Inc. (NASDAQ:UFPI). Public Sector Pension Board invested 0.01% of its portfolio in Universal Forest Products, Inc. (NASDAQ:UFPI). Barclays Public Limited Co holds 0% or 9,823 shares in its portfolio. Fmr Ltd reported 97,246 shares. Schwab Charles Mgmt Incorporated holds 0.01% or 165,819 shares. Jefferies Ltd Liability Co stated it has 0% in Universal Forest Products, Inc. (NASDAQ:UFPI). Amer International Group Inc invested in 0.01% or 15,895 shares. Citadel Advsr Limited Liability Com stated it has 0% in Universal Forest Products, Inc. (NASDAQ:UFPI). Comm Savings Bank has invested 0.01% in Universal Forest Products, Inc. (NASDAQ:UFPI). Alaska-based State Of Alaska Department Of Revenue has invested 0.02% in Universal Forest Products, Inc. (NASDAQ:UFPI). Moreover, Tortoise Inv Mgmt Limited Com has 0% invested in Universal Forest Products, Inc. (NASDAQ:UFPI) for 116 shares. Nuveen Asset Lc has invested 0.01% of its portfolio in Universal Forest Products, Inc. (NASDAQ:UFPI). Voya Inv Lc accumulated 271,516 shares or 0.06% of the stock. Tiaa Cref Inv Mngmt Ltd Llc holds 0.01% or 146,779 shares in its portfolio.

Since September 12, 2017, it had 0 insider buys, and 8 insider sales for $2.26 million activity. WEBSTER PATRICK M sold $133,205 worth of stock or 1,500 shares. 20,000 shares were sold by MISSAD MATTHEW J, worth $743,880. On Tuesday, October 31 COLEMAN ROBERT D sold $456,765 worth of Universal Forest Products, Inc. (NASDAQ:UFPI) or 4,100 shares. Another trade for 500 shares valued at $55,000 was made by COLE MICHAEL R on Thursday, October 26.

Robert Hockett decreased its stake in Universal Fst Prods Inc (UFPI) by 33.65% based on its latest 2017Q3 regulatory filing with the SEC. Covalent Partners Llc sold 90,645 shares as the company’s stock declined 13.81% while stock markets rallied. The hedge fund run by Robert Hockett held 178,721 shares of the basic industries company at the end of 2017Q3, valued at $17.54 million, down from 269,366 at the end of the previous reported quarter. Covalent Partners Llc who had been investing in Universal Fst Prods Inc for a number of months, seems to be less bullish one the $2.19 billion market cap company. It closed at $35.83 lastly. It is down 12.86% since February 15, 2017 and is uptrending. It has underperformed by 3.84% the S&P500.

Analysts await Universal Forest Products, Inc. (NASDAQ:UFPI) to report earnings on February, 28. They expect $0.43 earnings per share, up 26.47 % or $0.09 from last year’s $0.34 per share. UFPI’s profit will be $26.31M for 20.83 P/E if the $0.43 EPS becomes a reality. After $0.55 actual earnings per share reported by Universal Forest Products, Inc. for the previous quarter, Wall Street now forecasts -21.82 % negative EPS growth.

More notable recent Universal Forest Products, Inc. (NASDAQ:UFPI) news were published by: Seekingalpha.com which released: “Universal Forest Products’ Big Run Looks Too Far, Too Fast” on October 24, 2017, also Seekingalpha.com with their article: “Under The Hood, Universal Forest Products’ Q1 Looks Even Worse” published on May 08, 2017, Zacks.com published: “Universal Forest Sells Asset for Improved Operating Metrics” on January 24, 2018. More interesting news about Universal Forest Products, Inc. (NASDAQ:UFPI) were released by: Seekingalpha.com and their article: “Universal Forest Products’ (UFPI) CEO Matt Missad on Q3 2017 Results …” published on October 18, 2017 as well as Nasdaq.com‘s news article titled: “Universal Forest Products (UFPI) Up 15.9% Since Earnings Report: Can It Continue?” with publication date: November 17, 2017.

Universal Forest Products, Inc. (NASDAQ:UFPI) Ratings Coverage

Among 2 analysts covering Universal Forest Products (NASDAQ:UFPI), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Universal Forest Products had 6 analyst reports since October 16, 2015 according to SRatingsIntel. The stock of Universal Forest Products, Inc. (NASDAQ:UFPI) earned “Hold” rating by BMO Capital Markets on Tuesday, October 17. DA Davidson downgraded Universal Forest Products, Inc. (NASDAQ:UFPI) on Friday, October 16 to “Neutral” rating. The stock of Universal Forest Products, Inc. (NASDAQ:UFPI) has “Buy” rating given on Thursday, October 20 by DA Davidson. DA Davidson downgraded the shares of UFPI in report on Tuesday, December 8 to “Underperform” rating. DA Davidson upgraded Universal Forest Products, Inc. (NASDAQ:UFPI) on Tuesday, January 12 to “Neutral” rating.

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