What’s in Universal Forest Products, Inc. (UFPI) After Forming Multiple Top Pattern?

June 14, 2018 - By Maria Brooks

Universal Forest Products, Inc. (NASDAQ:UFPI) Logo

Investors sentiment decreased to 1.73 in Q1 2018. Its down 4.99, from 6.72 in 2017Q4. It dropped, as 13 investors sold Universal Forest Products, Inc. shares while 47 reduced holdings. 33 funds opened positions while 71 raised stakes. 47.81 million shares or 50.04% less from 95.70 million shares in 2017Q4 were reported.
Parametric Port Associates Lc has invested 0% in Universal Forest Products, Inc. (NASDAQ:UFPI). Mutual Of America Capital Mngmt Ltd has 274,303 shares for 0.14% of their portfolio. Moneta Inv Ltd Liability Corporation reported 2,525 shares or 0.01% of all its holdings. Highbridge Mgmt Ltd Company holds 0.01% of its portfolio in Universal Forest Products, Inc. (NASDAQ:UFPI) for 23,153 shares. Synovus Financial Corp invested 0% of its portfolio in Universal Forest Products, Inc. (NASDAQ:UFPI). Canada Pension Plan Board holds 0% of its portfolio in Universal Forest Products, Inc. (NASDAQ:UFPI) for 10,800 shares. Bluemountain Cap Mgmt Llc reported 28,975 shares. Price T Rowe Assoc Md holds 1.57M shares or 0.01% of its portfolio. Pnc Fincl, Pennsylvania-based fund reported 727,565 shares. Rothschild Asset Mngmt reported 319,803 shares. Ohio-based Victory Management has invested 0.02% in Universal Forest Products, Inc. (NASDAQ:UFPI). Bancorp Of Montreal Can holds 0% of its portfolio in Universal Forest Products, Inc. (NASDAQ:UFPI) for 2,601 shares. North Point Managers Corp Oh has 7,800 shares for 0.04% of their portfolio. Proshare Advisors Lc stated it has 0% of its portfolio in Universal Forest Products, Inc. (NASDAQ:UFPI). Moreover, Ftb Advsrs has 0% invested in Universal Forest Products, Inc. (NASDAQ:UFPI) for 888 shares.

Since March 13, 2018, it had 1 buy, and 6 insider sales for $878,044 activity. GREENE CHARLES SCOTT sold $191,275 worth of stock. Shares for $339,008 were bought by Tuuk Mary E. West Jonathan E. sold $86,504 worth of stock or 2,650 shares. On Friday, June 8 the insider WEBSTER PATRICK M sold $499,229.

The stock of Universal Forest Products, Inc. (UFPI) shows a multiple tops pattern with $39.42 target or 5.00 % above today’s $37.54 share price. The 6 months chart pattern indicates low risk for the $2.31 billion company. It was reported on Jun, 14 by Finviz.com. If the $39.42 price target is reached, the company will be worth $115.50 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.39% or $0.53 during the last trading session, reaching $37.54. About 102,765 shares traded. Universal Forest Products, Inc. (NASDAQ:UFPI) has risen 20.31% since June 14, 2017 and is uptrending. It has outperformed by 7.74% the S&P500.

Analysts await Universal Forest Products, Inc. (NASDAQ:UFPI) to report earnings on July, 17. They expect $0.75 EPS, up 36.36 % or $0.20 from last year’s $0.55 per share. UFPI’s profit will be $46.15 million for 12.51 P/E if the $0.75 EPS becomes a reality. After $0.45 actual EPS reported by Universal Forest Products, Inc. for the previous quarter, Wall Street now forecasts 66.67 % EPS growth.

Another recent and important Universal Forest Products, Inc. (NASDAQ:UFPI) news was published by Nasdaq.com which published an article titled: “UFPI closes on acquisition of North American Container Corporation; Company is also among the biggest climbers on …” on June 04, 2018.

Universal Forest Products, Inc., through its subsidiaries, designs, makes, and markets wood and wood-alternative products for home centers and other retailers. The company has market cap of $2.31 billion. The firm offers preserved and unpreserved dimensional lumber; outdoor living products, including wood composite decking, 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. It has a 17.62 P/E ratio. It also provides roof trusses, lumber cut and shaped, plywood, oriented strand board, and dimensional lumber products for use in the construction of manufactured housings; and designs, makes, and installs in-store environments.

Universal Forest Products, Inc. (NASDAQ:UFPI) Institutional Positions Chart

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