Last $52.61 USD
Change Today +0.04 / 0.08%
Volume 40.5K
As of 5:10 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

universal forest products (UFPI) Snapshot

Open
$52.56
Previous Close
$52.57
Day High
$52.84
Day Low
$51.94
52 Week High
03/4/14 - $58.52
52 Week Low
10/13/14 - $40.70
Market Cap
1.1B
Average Volume 10 Days
85.5K
EPS TTM
$2.76
Shares Outstanding
20.0M
EX-Date
11/26/14
P/E TM
19.1x
Dividend
$0.80
Dividend Yield
1.16%
Current Stock Chart for UNIVERSAL FOREST PRODUCTS (UFPI)

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universal forest products (UFPI) Details

Universal Forest Products, Inc., through its subsidiaries, primarily designs, manufactures, and markets wood and wood-alternative products for retail building home centers and other retailers. Its products comprise dimensional lumber, such as preserved and unpreserved lumber, and various value-added products; and engineered wood products that comprise roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages. The company also offers structural lumber and other products, such as roof trusses, cut and shaped lumber, plywood, particle board, and dimensional lumber for the manufactured housing industry; engineered wood components for the residential construction market; and specialty wood packaging, and components and packing materials for various industries. In addition, it provides outdoor living products, including wood composite decking, decorative balusters, post caps, and plastic lattice; lawn and garden products, such as trellises and arches, as well as offers framing services for the residential market and forming products for concrete construction. The company sells its products in the United States and internationally. Universal Forest Products, Inc. was founded in 1955 and is headquartered in Grand Rapids, Michigan.

5,500 Employees
Last Reported Date: 02/26/14
Founded in 1955

universal forest products (UFPI) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $514.9K
President and Chief Operating Officer
Total Annual Compensation: $375.1K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $304.4K
President of UFP Eastern Division Inc
Total Annual Compensation: $279.9K
President of UFP Western Division Inc
Total Annual Compensation: $244.2K
Compensation as of Fiscal Year 2013.

universal forest products (UFPI) Key Developments

Universal Forest Products Inc. Enters into $295 Million Unsecured Revolving Credit Facility with Syndicate of U.S. and Canadian Banks

On November 3, 2014, Universal Forest Products Inc. entered into a five-year, $295 million unsecured revolving credit facility with a syndicate of U.S. and Canadian banks led by JPMorgan Chase Bank, N.A., as administrative agent and Wells Fargo Bank, N.A., as syndication agent. The facilities include up to $45 million which may be advanced in the form of letters of credit, and up to $100 million (U.S. dollar equivalent) which may be advanced in Canadian dollars, Australian dollars, pounds Sterling, Euros and such other foreign currencies as may subsequently be agreed upon among the parties. This facility replaced its $265 million unsecured revolving credit facility. There were no borrowings outstanding on that revolving credit facility as of November 3, 2014, exclusive of supported Letters of Credit aggregating approximately $10 million. Cash borrowings are charged interest based upon an index selected by the Registrant, plus a margin that is determined based upon the index selected and upon the financial performance of the company and certain of its subsidiaries. The company is charged a facility fee on the entire amount of the lending commitment, at a per annum rate ranging from 15 to 32.5 basis points, also determined based upon the Registrant's performance. The facility fee is payable quarterly in arrears.

Universal Forest Products Inc. Approves Increase in Annual Dividend 2014; Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Universal Forest Products Inc. board approved an increase to the company's dividend at its meeting held on October 15, 2014. The board approved an increase in the December 2014 dividend payment, from $0.21 per share to $0.40 per share. The company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales grew in all three markets to total $713.5 million, up 9.5% over $651.8 million in the third quarter of 2013. Net earnings attributable to controlling interest were $19.234 million or $0.96 per diluted share compared to net earnings attributable to controlling interest of $14.091 million or $0.71 per diluted share for the same quarter of 2013. Earnings from operations were $32.22 million compared to $24.527 million reported a year ago. Earnings before income taxes were $31.668 million compared to $23.545 million reported a year ago. The company attributed its strong third quarter results to sales growth in all of their markets, improvement in operational efficiencies and their focus on profitability. Earnings attributable to controlling interests for the third quarter of 2014 included a net gain of $700,000 on the sale of certain assets. For the nine months, the company reported sales of $2,040.239 million against $1,944.711 million a year ago. Net earnings attributable to controlling interest were $48.238 million or $2.40 per diluted share compared to net earnings attributable to controlling interest of $35.087 million or $1.76 per diluted share for the same quarter of 2013. Earnings from operations were $81.57 million compared to $60.702 million reported a year ago. Earnings before income taxes were $79.607 million compared to $57.733 million reported a year ago. Net cash from operating activities was $70.528 million against $47.68 million a year ago. Purchases of property, plant, and equipment was $31.676 million against $32.108 million a year ago.

Universal Forest Products Inc., Board Meeting, Oct 15, 2014

Universal Forest Products Inc., Board Meeting, Oct 15, 2014. Agenda: To approve increase to the company's dividend.

 

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Industry Analysis

UFPI

Industry Average

Valuation UFPI Industry Range
Price/Earnings 18.5x
Price/Sales 0.4x
Price/Book 1.5x
Price/Cash Flow 18.4x
TEV/Sales 0.4x
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